Grains Consolidate Amid Strong Soybean Sales and Jobs Report

Corn, soybeans, and wheat are all consolidating on their daily bar charts, according to Pro Farmer. This means that prices for these commodities are stuck in a range with no clear direction.

The USDA reported daily sales of 250,600 MT of soybeans for delivery during the 2026-27 marketing year. Meanwhile, the US economy added 162,000 jobs in August, beating expectations and bolstering the case for a rate hike later this month.

In other news, Steve Witkoff and Jared Kushner are set to visit Moscow and Kyiv this weekend in an effort to broker a peace deal between Russia and Ukraine. The UN's FAO Food Price Index rose 1.9% in August, reaching its highest level since November 2022 due to broad-based increases across all commodity categories.