Corn Prices Pause, Wheat Futures Surge on Strong Demand
Corn prices have paused after reaching fresh highs on Wednesday, but strength in wheat futures is limiting seller interest. The US Department of Agriculture (USDA) reported weekly corn sales of 31,200 metric tons for the 2025-26 marketing year, a low point, down 87% from the previous week and 89% from the four-week average.
Net sales of 1.067 million metric tons were reported for the 2026-27 crop year. China is expected to ship at least 1.2 million tons of a key fertilizer variety to India, marking an increase in sales from the world's top producer after Beijing loosened export controls earlier this year.
Soybean prices are mostly 2 to 3 cents higher, while meal is around $1.30 higher. Soyoil futures are about 90 points higher. The USDA reported weekly soybean sales of 104,700 metric tons during the week ended August 20, up 13% from the previous week and 28% from the four-week average.
Net sales of 322,800 metric tons were reported for the 2026-27 crop year. Soybean planting in Mato Grosso is set to begin on September 16, with producers potentially waiting for additional rain and increases in soil moisture before planting.