Soybean and Grain Futures Decline Following USDA Reports

In the latest market developments, soybean and grain futures have witnessed declines following the USDA’s recent production estimates, which exceeded traders’ expectations.

USDA Production Estimates Exceed Expectations

The USDA has forecast domestic soybean output at 4.26 billion bushels with a yield of 53 bushels per acre, as reported in their monthly supply and demand update. This marks a slight increase from last month’s estimate of 4.25 billion bushels, with the yield remaining unchanged.

Analysts had anticipated an output of 4.23 billion bushels with a yield of 52.7 bushels per acre. In the corn sector, production is now projected at 17.02 billion bushels with a yield of 186.5 bushels per acre, up from December’s forecast of 16.75 billion bushels at a yield of 186 bushels per acre.

Increased Ending Stockpiles

Ending stockpiles for soybeans have also been revised upward, with inventories at the close of the 2026 marketing year now expected to reach 350 million bushels. This is an increase from last month’s projection of 290 million bushels and above the trade estimate of 292 million bushels.

For corn, stock levels at the end of August are projected to be 2.227 billion bushels, surpassing both December’s estimate of 2.029 billion bushels and analysts’ forecast of 1.972 billion bushels. Similarly, wheat inventories are expected to be 926 million bushels, up from the previous estimate of 901 million bushels.

Market Reactions

In response to these reports, soybean futures for March delivery fell 6¾¢ to $10.42¼ a bushel on the Chicago Board of Trade. Soy meal also declined by $2.10 to $296.20 a short ton, while soy oil saw a slight increase of 0.17¢ to 50.44¢ per pound. Corn prices for March delivery decreased by 2¾¢ to $4.18¾ a bushel, while wheat futures dropped 2¼¢ to $5.09 a bushel.

Export Inspections Show Week-to-Week Increases

According to USDA data, export inspections for corn, soybeans, and wheat have all increased compared to the previous week. Corn inspections improved to 1.49 million metric tons, up from 1.32 million tons a week earlier, and higher than the 1.44 million tons inspected during the same week last year.

Soybean inspections reached 1.53 million metric tons, a significant rise from 984,116 tons the prior week. Wheat inspections also saw an increase, jumping to 317,465 metric tons from 183,476 tons.

Weather Updates: Snow and Ice Forecasted

The National Weather Service has issued forecasts indicating snow and ice are expected in parts of northern Minnesota. Mixed precipitation is likely this morning along with a glaze of ice and snow accumulations expected to be minimal.

Road conditions may become hazardous, particularly on overpasses, as strong winds are anticipated in central Iowa, leading to potential snowfall in the coming days. Winds could gust up to 40 mph, particularly in north-central Iowa, with snow expected intermittently from Thursday through Saturday.

This article is designed to provide clear, organized, and up-to-date coverage of the soy and grain markets while integrating weather updates that could impact agricultural activities.