Soybeans rise ahead of USDA monthly report
SOYB•Chicago soybean futures rose 0.12% to $12.94-1/2 a bushel ahead of a USDA report, with analysts expecting the August soybean crush to fall to an 11-month low of 6.317 million short tons. Wheat and corn futures also rose.
1. Grain futures rise
The most-active Chicago soybean contract added 0.12% to $12.94-1/2 a bushel by 0012 GMT. Wheat rose 0.22% to $6.77-1/4 a bushel, and corn gained 0.35% to $5.02-1/2 a bushel.
2. Crush expectations
Analysts expected the US soybean crush to drop in August to an 11-month low of 6.317 million short tons, or 210.5 million bushels, ahead of a monthly USDA report due Thursday.
3. Storage and exports
US farmers and grain handlers had 35% more corn in storage on September 1 than a year earlier, the USDA said Wednesday. Consultancy Sovecon cut its forecast for Russia’s 2026/27 grain exports to 44.7 million metric tons from 49.4 million, warning that Azov and Black Sea ports would remain shut until 2027.
