Soybeans and Wheat Lead Grain Market Rebound

Soybean prices on the Chicago Board of Trade climbed on Monday, snapping a three-session losing streak. The U.S. Department of Agriculture (USDA) reported strong export shipments of 1.14 million tonnes for the week ended October 1, a 45.3% increase from the previous week but a 1.5% decline from the same week last year. Year-to-date exports now stand at 3.99 million tonnes, up 30.9% from the previous year. Additionally, the USDA announced a private sale of 104,000 tonnes of soybeans to unspecified destinations.

Wheat prices also posted gains, with December Minneapolis spring wheat surpassing the US$7 per bushel mark. U.S. wheat exports totaled 302,356 tonnes last week, down 10.3% from the prior week and 49% from the same week last year. The marketing year total is 6.67 million tonnes, 35% less than last year. A Saudi Arabian tender for 683,000 tonnes of wheat was successfully filled.

Corn prices remained relatively stable on Monday. U.S. corn exports were 1.37 million tonnes last week, a 19.6% drop from the week before but a 13.5% increase from the year before. Marketing year exports are 7.11 million tonnes, up 4.4% from last year. The USDA reported a private export sale of 129,540 tonnes of corn to Mexico for 2026-27 delivery.

AgRural reported that Brazil’s soybean crop was 7.3% planted as of October 1, lagging behind the 9% from last year. Its production estimate was raised by 100,000 tonnes to 182.7 million. Meanwhile, Brazil’s corn crop was estimated to be 38% planted, compared to 40% last year.