US Grain Markets Eye USDA Report Amid Yield Threats
US grain and oilseed markets are preparing for the USDA's upcoming report on August supply and demand estimates. Analyst Tom Lilja notes that CBOT soybeans, corn, and wheat have been trending upward, but hot dry weather is threatening US yields.
The average yield guess for 2026-27 soybeans ahead of the report is 52.9 bushels per acre, slightly below the July estimate of 53 BPA. Production is expected to be 4.472 billion bushels, down three million from the July estimate but higher than the 2025-26 total of 4.262 billion.
Cooler temperatures and heavy rains are forecast for the US Midwest this week, which could benefit pod-filling and pod-setting in soybeans.
Corn prices were steady on Monday amid rising crude oil prices and upcoming rain in the US Corn Belt. The USDA announced a private export sale of 105,000 tonnes of corn to unknown destinations.