US Grain and Oilseed Markets See Losses Amid Higher Crude Oil Prices
The US grain and oilseed markets saw losses on Wednesday, despite a turnaround in crude oil prices. Soybean futures on the Chicago Board of Trade were lower, but not as steep as expected due to higher crude oil prices.
Market analysts estimated that soybean sales would be between 1.5 million to two million tonnes for the week ended September 17, with soymeal projected at 250,000 to 375,000 tonnes and soyoil showing net reductions of 2,000 tonnes to net sales of 6,500 tonnes.
Harvesting was expected to be slowed down by rain forecast in several states, including Minnesota, Iowa, the Dakotas, Nebraska, Kansas, and Missouri. The exporter group ANEC lowered its call on Brazil's September soybean exports by 300,000 tonnes, now at 8.02 million tonnes, which would still represent a 9.25% increase from September 2025.
Corn futures were also lower, in sympathy with soybeans, and US corn export sales are expected to be between 800,000 to 1.4 million tonnes. The USDA announced a private sale of 100,000 tonnes of 2026-27 corn to Mexico.