CBOT trends: Wheat up 3-6 cents, corn up 1-3 cents, soy up 5-8 cents
DBA•Wheat futures were expected to rise 3-6 cents per bushel, corn 1-3 cents and soybeans 5-8 cents ahead of USDA grain stocks and small grains reports.
1. Wheat firms ahead of reports
Wheat futures rose in early trading, rebounding from Tuesday’s six-week low as traders adjusted positions ahead of USDA reports. SovEcon cut its forecast for Russia’s 2026/27 grain exports to 44.7 million metric tons from 49.4 million, citing disruptions at southern ports. Analysts expected the USDA to trim its estimate of the 2026 U.S. wheat harvest to 1.524 billion bushels from 1.531 billion.
2. Corn traders await stocks data
Corn futures firmed in range-bound trade as market participants positioned for the quarterly stocks report. Analysts expected U.S. corn stocks on September 1 to total 1.918 billion bushels, a six-year high and slightly below the USDA’s previous 2025/26 ending-stocks projection of 1.922 billion bushels. Rains slowed harvesting in the Corn Belt, though forecasts called for drier weather after Friday.
3. Soybeans gain on buying
Soybean futures rose on bargain-buying and positioning ahead of the stocks report, with harvest delays in key Midwest states including Iowa providing additional support. The USDA confirmed private sales of 105,000 metric tons of U.S. soybeans to unknown destinations for delivery in the 2026/27 marketing year. Analysts expected September 1 soybean stocks of 324 million bushels, nearly unchanged from a year earlier.
