PARIS/BEIJING - Chicago Board of Trade corn, wheat and soybeans fell for a second session on Thursday as a weather-fuelled ​rally to one-month highs ⁠faded and traders awaited U.S. government crop data for further direction, analysts said. Grain prices have also drawn ‌support from talk of renewed Chinese demand, but that factor was seen as priced in following Wednesday's confirmation by the U.S. ​Department of Agriculture of 472,000 metric tons of U.S. soybean sales to China. After a hot spell in the U.S. Midwest ​unsettled ​investors in the run-up to the pollination period for corn, crop concerns were tempered by forecasts pointing to widespread showers and moderate heat in the coming days in much of the grain belt. Attention ⁠is shifting towards Friday's monthly supply-and-demand report from the USDA.

Traders are watching to see how the agency incorporates its end-June acreage and stocks estimates that included lower-than-expected figures for corn stocks and wheat planting. "After the impressive run higher in recent days, a correction was needed," CM Navigator analyst Donatas Jankauskas said of grains in ​a note. "The upcoming ‌USDA report ... may ⁠be one reason why market ⁠participants are adjusting positions."

The most-active soybeans contract on the Chicago Board of Trade was down 0.5% at $11.86-3/4 a bushel, ​as of 1020 GMT. CBOT wheat fell 0.4% to $6.05-1/2 a bushel, and CBOT corn ‌dropped 1.3% to $4.50-1/2 a bushel.

With the focus on weather and ⁠Friday's USDA report, grain markets showed little reaction to Wednesday's jump in crude oil, with the exception of soyoil, heavily used for biodiesel fuel.

Traders will get an update on demand from weekly U.S. export sales figures later on Thursday, which may give more detail on recent Chinese soybean purchases that traders have said could total at least 600,000 tons. In wheat, Argentina's 2026/27 harvest is projected to reach 20.5 million metric tons, the Rosario Grains Exchange said on Wednesday, an upward revision of 0.5 million tons as favourable rainfall and lower fertiliser costs expanded planting area. Favourable harvest prospects in some major exporting countries, notably Russia, have ‌tempered concern over a drought-hit U.S. harvest and weather losses in Western ⁠Europe.

Commodity data firm Expana reduced its monthly forecast by nearly 1 million ​tons for the European Union's main wheat crop in 2026/27, though it made a steeper cut to its EU corn harvest outlook as scorching weather continued. Prices at 1020 GMT Last Change Pct Move CBOT wheat 605.50 -2.25 -0.37 CBOT corn 450.50 -5.75 -1.26 CBOT soy 1186.75 -5.50 -0.46 Paris wheat 203.25 -1.25 -0.61 Paris maize 231.25 -1.25 -0.54 Paris rapeseed 518.50 -4.50 -0.86 WTI crude ​oil 73.58 0.06 0.08 Euro/dollar 1.14 0.00 0.11 Most active contracts - ‌Wheat, corn and soy U.S. cents/bushel, Paris futures in euros per metric ton.