Soybeans fall on profit taking and technical selling, leaving futures lower for the week. The U.S. Department of Agriculture raised production and yield from its August update, while trimming ending stocks on expectations for stronger exports. Analysts noted the supply increase surprised some traders, and some had anticipated an even larger export projection. Even so, the stocks-to-use ratio was viewed as at least slightly supportive. The next USDA supply and demand update is due October 9.
Weekly new-crop soybean sales were strong at nearly 96.9 million bushels, with most sales to China and to unknown destinations. Old-crop adjustments are still being sorted out. For now, USDA shows 2025/26 soybean sales running 18 percent below 2024/25. Soybean meal futures finished lower and soybean oil fell sharply on prospects for a larger soybean crop. Additional pressure on bean oil came from crude oil. West Texas Intermediate crude settled sharply lower on profit taking but remained above 100 dollars per barrel on supply concerns.
Soybeans fall and corn tracks lower
Corn futures slipped on profit taking and technical pressure, ending the week modestly lower. USDA reduced monthly yield and production estimates after a hot, dry finish in parts of the Corn Belt, which also pulled down the new-crop ending stocks outlook. Futures briefly ticked higher on the report but could not hold gains amid declines in soybeans, wheat, and crude oil. Traders noted yield could still edge lower, demand remains firm, and U.S. and global stocks-to-use ratios are tight. Harvest is progressing, with the next weekly crop progress and condition report due Monday, September 14 at 4 p.m. Eastern, 3 p.m. Central.
Markets are also monitoring first-crop planting in Brazil, with CONAB’s next update scheduled for the 15th. Weekly new-crop corn export sales totaled 75.9 million bushels, led by business with Mexico and Japan. Unofficially, 2025/26 U.S. corn exports were 25 percent larger than 2024/25. Before Friday’s open, Mexico booked an additional 264,000 tons for 2026/27 delivery.
Wheat retreats on profit taking and soft exports
Wheat futures were sharply lower on profit taking and technical selling, pushing most active contracts to a steady-to-lower weekly close. Weekly export sales fell to a marketing-year low of 7.1 million bushels, in part due to elevated prices, as traders continued to track disruptions in the Black Sea. There were fresh signals about possible peace talks between Russia and Ukraine on Friday, but prior attempts have faltered and any ceasefire would leave damaged port infrastructure that will take time to restore.
USDA slightly lowered its 2026/27 export outlook for Russia and Ukraine and left new-crop U.S. ending stocks unchanged. Global production was raised for Argentina, Australia, Canada, and Ukraine.