Soybeans and wheat prices climb amid mixed export data

Soybean prices on the Chicago Board of Trade rebounded on Monday, ending a three-session losing streak. The U.S. Department of Agriculture reported a significant increase in soybean exports, with 1.14 million tonnes shipped during the week ending October 1. This marked a 45.3% rise from the previous week, though it was still 1.5% lower than the same week last year. Cumulative exports for the marketing year now stand at 3.99 million tonnes, up 30.9% year-over-year. Additionally, the USDA announced a private sale of 104,000 tonnes of soybeans to an unspecified destination.

Brazil’s soybean planting progress lagged behind last year’s pace, with only 7.3% of the crop planted as of October 1, compared to 9% at the same time last year. However, AgRural raised its production estimate by 100,000 tonnes, now projecting a total output of 182.7 million tonnes.

Wheat prices also saw 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 exports reached 6.67 million tonnes, a 35% decrease from last year. Notably, a Saudi Arabian tender for 683,000 tonnes of wheat was fulfilled.

Corn prices remained relatively stable on Monday. U.S. corn exports amounted to 1.37 million tonnes last week, a 19.6% decline from the previous week but a 13.5% increase from the same period last year. Marketing year exports totaled 7.11 million tonnes, up 4.4% from last year. AgRural reported that 38% of Brazil’s corn crop had been planted, slightly behind the 40% planted last year. The USDA also confirmed a private export sale of 129,540 tonnes of corn to Mexico, scheduled for delivery in the 2026-27 marketing year.