Corn, wheat, and soybean futures all finished higher on Thursday, ahead of the USDA’s monthly supply-demand update.
Most traders and analysts expect the report – which will be released at noon EST tomorrow – will trim US corn and soybean yield and production estimates from last month, although crops will remain large. Positioning ahead of the report accounted for some of the strength in the markets today, offsetting generally negative weekly export sales.
The weekly US export sales report showed bookings of 2025-26 US corn for the week ended Sept. 4 at just under 540,000 tonnes, well below trade estimates. However, total 2025-26 corn sales are starting the year at the second largest on record at 22.6 million tonnes. December and March corn each gained 2 ¾ cents to end at $4.19 ¾, and $4.37 ¼.
The weekly export sales report for soybeans was considered disappointing. Bookings of US soybeans for 2025-26 were reported at just over 541,000 tonnes, on the low end of expectations. Meanwhile, total commitments start out the 2025-26 marketing year at 9.12 million tonnes, the second lowest going back to 2009-10, behind 2019-20. November beans gained 8 ¼ cents to $10.33 ½, and January was up 7 ¾ cents at $10.52 ½.
The weekly export sales report from this morning showed another weak round of sales, with 305,351 tonnes in sales, on the low end of trade ideas. December Chicago wheat gained 6 ½ cents to $5.21 ½, and December Kansas City added 3 cents to $5.10. December Hard Red Spring was 3 ¼ cents higher at $5.26 ½, and December Minneapolis was 2 cents higher at $5.71 ½.
