Soybeans, Corn, Wheat Prices Rise Amid Strong Demand and Weather Concerns

The prices of soybeans, corn, and wheat rose at the start of the month due to fund and technical buying. The USDA's national crop rating is currently at a multi-year low, with hot and dry weather forecasted in the near term, potentially reducing yields.

Soybean futures were higher on the back of strong demand from China, which purchased 136,000 tons of U.S. beans ahead of the open, bringing the total to 703,000 tons for delivery in 2026/27. The new marketing year for soybeans, corn, and sorghum began on September 1st.

The USDA reported that 222 million bushels of soybeans were crushed in July, up from June and July last year. This increase in production pushed soybean meal and oil stocks above their year-ago levels.

Corn prices also rose due to fund and technical buying, with the U.S. good-to-excellent rating at its lowest level in years. There is potential for late weather impacts on yields, leading some experts to predict a cut in yield by the USDA later this month.