US Grains Markets See Shifts Amid Crude Oil Price Swings
Soybean futures at the Chicago Board of Trade remained relatively steady on Monday, despite an earlier decline due to stronger crude oil prices. The United States Department of Agriculture reported soybean export inspections of 250,801 tonnes for the week ended Aug. 27, down nearly 42% from the previous week.
The USDA announced a private sale for 159,000 tonnes of 2026-27 soybeans to unknown destinations. Meanwhile, the net long position in soybeans as of Aug. 25 increased by 46,592 contracts at 198,254, according to the US Commodity Futures Trading Commission's commitments of traders report.
Corn futures inched up on Monday, caught between the hikes in crude oil and the losses in wheat. Corn export inspections improved to nearly 1.50 million tonnes from 1.32 million the previous week, while cumulative exports were just short of 83.81 million tonnes versus 66.97 million a year ago.