Grains-soybeans, soymeal rise on US crush data; wheat turns higher

In South America, Brazil's 2026/27 soybean production is expected to reach 181.64 million metric tons, up 0.7% from the previous year, national crop agency Conab said, but the figure fell below the U.S. Department of Agriculture's current forecast for a 186 million-ton Brazilian crop.

Conab projected total 2026/27 Brazilian corn production at a record 148 million tons, above USDA's forecast of 139 million tons.

Soybeans and soymeal futures hit session highs after the National Oilseed Processors Association said its membership crushed 205.456 million bushels of soybeans in August, an 11-month low, and soyoil stocks thinned to the lowest level since November 2024.

CBOT soyoil futures BOZ26 pared losses and turned higher after the report's release.

"The broader edible oil complex continues to be supported by the increasing demand for biofuel globally amid the ongoing energy shock due to disruptions in both the Middle East and Black Sea," StoneX commodities economist Mike Castle said in a client note.