Archive · 12 Oct 2026
US Harvest Pressure and Higher Stock Estimates Weigh on Chicago Grains
Prices for wheat, corn and soybeans went down on Monday.
Traders were waiting for a US report about how much of the harvest had been completed.
Better weather in the Midwest may help farmers make up for delays caused by rain.
The US government also estimated that more grain and soybeans would be left in storage than it had expected in September.
China lowered its forecast for its next soybean crop.
Meanwhile, planting in Brazil was moving quickly, with about one-fifth of the planned area planted.
These reports gave grain traders several signals to consider.
Chicago wheat and corn fell for a fourth consecutive session on Monday as traders awaited the USDA’s weekly harvest progress report.
Soybeans also declined, with favourable Midwest weather raising hopes that harvesting can catch up after earlier rain delays.
By 0039 GMT, soybeans were down 0.52% at $12.85-1/4 a bushel, corn 0.16% at $4.79, and wheat 0.86% at $6.65-1/4.
The USDA raised its estimates for US grain and soybean ending stocks from its September estimates.
China lowered its 2026/27 soybean output forecast by 590,000 metric tons, while Brazil’s 2026/27 soybean planting was reported at about one-fifth of projected area.
- Who
- Traders in Chicago grain markets; the USDA, China’s Agriculture Ministry and Brazil’s Patria AgroNegocios are among the organizations cited.
- What
- Chicago wheat, corn and soybean prices fell, while the USDA raised its US ending-stock estimates.
- When
- Monday; prices were reported at 0039 GMT. The USDA harvest progress report was due Tuesday.
- Where
- Chicago grain markets; the harvest and planting reports concern the US, China and Brazil.
- Why
- Traders anticipated the US harvest report, favourable US Midwest weather raised hopes of faster harvesting, and the USDA increased its ending-stock estimates.
Factors Supporting Prices
Factors Pressuring Prices
Harvest and supply outlook
Factors Supporting Prices
China’s Agriculture Ministry lowered its 2026/27 soybean output forecast, and Algeria issued a tender for about 50,000 tons of milling wheat.
Factors Pressuring Prices
The USDA raised its estimates for US grain and soybean ending stocks, while favourable Midwest weather raised hopes that delayed US harvesting would catch up.
Soybean planting
Factors Supporting Prices
The article reports that China’s planted area and yields missed expectations, prompting a lower production forecast.
Factors Pressuring Prices
Brazil’s 2026/27 soybean planting was advancing at a record pace, reaching about one-fifth of projected planted area.
- Soybean price
- $12.85-1/4 a bushel, down 0.52% at 0039 GMT
- Corn price
- $4.79 a bushel, down 0.16% at 0039 GMT
- Wheat price
- $6.65-1/4 a bushel, down 0.86% at 0039 GMT
- USDA report
- Weekly harvest progress report due Tuesday
- US ending stocks
- The USDA raised estimates for US grain and soybean ending stocks compared with September
- China soybean forecast
- China cut its 2026/27 output forecast by 590,000 metric tons to 20.36 million tons
- Brazil planting
- About one-fifth of projected 2026/27 soybean area was planted, at the fastest pace ever, according to Patria AgroNegocios