Market News

Soybeans lower to start the week

Soybeans were lower on fund and technical selling.  There has been ample supplies of precipitation for crop development, but that doesn’t provide any price support.  Nationally, soybeans are 92 percent planted and 65 percent of the crops are rated good to excellent.  The market is also looking ahead to Thursday’s crop production numbers from the USDA.  The USDA did report a sale of soybeans to unknown destinations market for the 2026/2027 marketing year. There aren’t any major concerns about global supplies as Brazil has a record-large crop and Argentina’s is better than expected.   

Corn finished the day mixed, breaking the streak of several consecutive days of losses.  The U.S. corn crop is 97 percent planted, with 67 percent of the crop rated good to excellent.  The USDA reported a flash sale of corn to Japan, part of the sale is marked for delivery this marketing year, with the balance for next.  There are limited weather concerns for the U.S. corn crop. There has been ample rainfall across much of the Corn Belt, even though some areas have had excessive precipitation.  There are large crops expected out of South America.   The USDA will update is supply and demand numbers on Thursday. 

The wheat complex was mixed, which provided a break from the 11-consecutive days of losses. US wheat does remain priced at a disadvantage on the global market.  The market is watching harvest progress in the west and crop development in the Northern Plains.  Nationally, 11 percent of the winter wheat crop has been harvested, overall, just 25 percent of the crop is rated good to excellent.  Spring wheat is 98 percent planted, with 87 percent of the crop emerged.  The trade is concerned that there could be sharply lower production in the Southern Hemisphere.  Harvested area is expected to decline due to higher energy costs, and there is also some yield uncertainty because of weather patterns.