USDA Supply/Demand Estimates Support Soybean Recovery

The soybean market saw some recovery after bearish supply/demand estimates from the US Department of Agriculture. The USDA reported that 672,750 tonnes of soybeans were exported during the week ended Sept. 10, a 44.8% increase from the previous week and an 18.2% decrease compared to the same week last year.

Exports for the marketing year so far were 914,826 tonnes, a 15.8% decrease from last year. The USDA also reported outstanding sales of US soybeans to China for 2026-27 as of Sept. 3 at 8.98 million tonnes, which is 36% of the White House's target of 25 million.

AgRural estimated that 0.4% of the 2026-27 soybean crop in Brazil was planted as of Sept. 10.

Corn made small gains on Monday, despite slightly bearish projections from the USDA on Friday. The USDA reported 1.525 million tonnes of corn were exported, down 8.9% from the previous week and 0.5% from the same week last year.

Brazil's first corn crop was 22% planted as of Sept. 10, ahead of last year's pace of 17%. APK-Inform estimated the Ukrainian corn crop at 32.3 million tonnes for 2026-27, raising its estimate by 2.5 million from the previous one.

Wheat prices were lower due to projected global ending stocks being greater than anticipated. The USDA reported 456,720 tonnes of wheat were exported last week, down 5.9% from the week before and 39.8% less than the same time last year.