Soybeans and Wheat Prices Climb on Strong Export Data

Soybean prices on the Chicago Board of Trade climbed on Monday, ending a three-session losing streak. The United States Department of Agriculture (USDA) reported that soybean exports for the week ended October 1 totaled 1.14 million tonnes, a 45.3% increase from the previous week but a 1.5% drop from the same period last year. Year-to-date shipments stand at 3.99 million tonnes, up 30.9% from the previous year. The USDA also announced a private sale of 104,000 tonnes of soybeans to an undisclosed destination. Meanwhile, AgRural reported that Brazil’s soybean planting progress was slightly behind last year’s pace, with 7.3% of the crop planted as of October 1. The firm raised its production estimate by 100,000 tonnes to 182.7 million.

Wheat prices also saw gains, with December Minneapolis spring wheat surpassing the US$7 per bushel mark. U.S. wheat exports for the past week amounted to 302,356 tonnes, down 10.3% from the prior week and 49% from the same week last year. Year-to-date exports total 6.67 million tonnes, which is 35% lower than last year. A Saudi Arabian tender for 683,000 tonnes of wheat was successfully filled.

Corn prices remained steady on Monday. U.S. corn exports for the previous week were reported at 1.37 million tonnes, a 19.6% decrease from the week before but a 13.5% increase from the same period last year. Year-to-date exports are at 7.11 million tonnes, up 4.4% from last year. AgRural estimated that 38% of Brazil’s corn crop has been planted, compared to 40% at this time last year. The USDA reported a private export sale of 129,540 tonnes of corn to Mexico for delivery in the 2026-27 marketing year.