Strong export demand helped to boost soybean futures on Thursday, with both corn and wheat settling lower.
The USDA this morning reported private export sales of 435,000 tonnes to unknown destinations, along with an additional 110,000 to unknown destinations and 204,000 to China. Meanwhile, the USDA’s weekly export sales report showed bookings of US beans for the week ended Jan. 8 at 2.06 million tonnes, the third highest of the marketing and exceeding trade expectations. March soybeans were up 10 ½ cents to $10.53, and new-crop November was 6 ¼ cents higher at $10.64 ¼.
Corn remained under pressure from the record-large 2025 US crop, with the International Grains Council (IGC) revising 2025-26 global corn production higher from November. On the other hand, weekly export sales were supportive, with the USDA reporting bookings for the week ended Jan. 8 at 1.14 million, near the top half of expectations. March corn slipped 1 ¾ cents to $4.20 ¼, and December was down a penny at $4.46 ¾.
Wheat export sales came in at just 156,255 tonnes, on the low end of trade guesses. Along with corn, the IGC also revised its 2025-26 global wheat production estimate higher from last month. March Chicago fell 2 cents to $5.10 ½, and March Kansas City lost a nickel to $5.17 ¼. March Hard Red Spring dipped 4 ½ cents to $5.56 ¼, and March Minneapolis was down 4 ½ cents at $5.62 ½.
