Grain Markets Slide Except for Minneapolis Wheat

Soybean futures at the Chicago Board of Trade tumbled on Wednesday due to declining soyoil prices, despite a surge in soybean crush and stocks. The United States Department of Agriculture reported that the July soybean crush reached 221.9 million bushels, an 8.2% increase from last year. Soyoil stocks stood at 1.96 billion pounds, up 4.7% from a year ago.

The USDA also announced a private sale for 202,000 tonnes of 2026-27 soybeans to China, while StoneX raised its projections for the 2026-27 Brazil soybean crop by 400,000 tonnes at 183.5 million.

Corn futures declined on Wednesday, with spillover from soy outweighing gains in crude oil. The U.S. Energy Information Administration reported that ethanol production averaged 1.11 million barrels per day for the week ended Aug. 28, while stocks slipped 171,000 barrels at 25.04 million.

Wheat futures were mixed, with Minneapolis posting an increase while Chicago and Kansas City dropped back. Russia announced it has suspended its export duty on grain exports until the end of 2026.