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Wheat ticks down after rally, strong demand forecast limits decline Chicago wheat futures slid on Wednesday, taking a breather from a strong run-up in the last session, although the U.S. Department of Agriculture’s (USDA) forecast for strong demand put a floor under the market. Soybeans eased after four straight sessions of gains, while corn dipped for a second consecutive day. “The USDA increased overall global demand for soybeans, corn and wheat,” said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney. “But the biggest surprise was that they increased China’s demand for wheat imports.”

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