Ukraine’s grain harvest has reached 31.9 million tons so far this season, driven by a surge in corn and soybean production. At the same time, France’s corn crop remains stable, while market speculators adjust their positions on grain futures.

Ukraine’s grain harvest grew by 7% year-on-year as of 20 September, reaching 31.9 million tons, according to a recent report by ING Bank, citing Ukraine’s Agriculture Ministry. Corn production played a key role in this increase, with the crop jumping from 182,500 tons last season to 2.4 million tons. Soybean production also surged, doubling to 2.6 million tons, while wheat output increased slightly to 22.3 million tons.

In France, 80% of the corn crop was rated in good to excellent condition as of 16 September, a slight dip from last year’s 81%, according to the latest report from the French Agriculture Ministry.

Speculative activity in grain markets has also shifted. The Commodity Futures Trading Commission (CFTC) reports that money managers reduced their net short positions in CBOT wheat to 25,033 lots as of 17 September, the least bearish since May. In soybeans, net short positions fell by 8,186 lots, driven by a reduction in gross shorts. Meanwhile, net speculative short positions in corn rose slightly after three weeks of declines.