Soybean futures fell on export demand concerns on Friday, with corn and wheat finishing lower as well.
The USDA did announce private export sales of American soybeans this morning, but the weekly export sales report showed bookings of 2025-26 US supplies for the week ended Aug. 28 at 818,474 tonnes. That was on the lower side of pre-report trade estimates that ranged from 600,000 to 1.6 million. It was a four-week low and comes as China continues to avoid US origin and buy Brazilian beans instead. November and January beans each fell 6 cents to close at $10.27 and $10.45 ½.
Corn fell on big US harvest expectations and position squaring ahead of next week’s WASDE report release. Weekly export sales were considered positive. The export sales report pegged bookings of American corn for the week ended Aug. 28 at 2.117 million tonnes, on the high side of expectations. December was down 1 ¾ cents at $4.18, and March dipped a penny to $4.36 ½.
Wheat remained mired in heavy global supplies. Weekly export sales did not help either. Just 312,978 tonnes of US wheat was reported booked for the week of Aug. 28, below trade estimates and the second lowest of the marketing year. December Chicago dropped a ¼ cent to $5.19 ¼, and December Kansas City lost a penny to $5.05 ¼. December Hard Red Spring slid 3 ¼ cents to $5.21 and December Minneapolis closed 4 ¼ cents lower at $5.66.
