Soybeans rise ahead of USDA monthly report

By Reuters News

JAKARTA, Oct 1 (Reuters) - Chicago soybean futures rose on Thursday ahead of a monthly US Department of Agriculture report, amid analysts' expectations that August crushing probably fell.

Wheat and corn futures rose after booking monthly losses on Wednesday.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) added 0.12% to $12.94-1/2 a bushel by 0012 GMT. The contract was up 0.39% in September.

* Wheat was up 0.22% to $6.77-1/4 a bushel and corn rose 0.35% to $5.02-1/2 a bushel. Wheat was down 12.69% on a monthly basis last month, while corn had lost 6.88%.

* Spot basis bids for soybeans were mixed in the US Midwest on Wednesday as harvest delays continued to curb the flow of grain in some areas while other sites lowered their posted bids in anticipation of increased supplies in October, dealers said.

* The US soybean crush likely dropped in August to an 11-month low of 6.317 million short tons, or 210.5 million bushels, analysts said, ahead of a monthly US Department of Agriculture report due on Thursday.

* Spot basis bids for corn softened in the US Midwest on Wednesday, as forecasts called for improving weather that could promote harvest progress and grain movement, while hard red winter wheat basis bids were steady to weaker in the southern US Plains.

* US farmers and grain handlers had 35% more corn in storage as of September 1 than a year earlier, the US Department of Agriculture said on Wednesday, a bigger-than-expected increase following a large harvest in 2025.

* Grain consultancy Sovecon said on Wednesday it had cut its forecast for Russia's 2026/27 grain exports to 44.7 million metric tons, down from 49.4 million tons seen earlier, warning that Azov and Black Sea ports will remain shut until 2027.

DATA/EVENTS (GMT)

0030 Japan S&P Global Mfg PMI SA Sep

0600 UK Nationwide house price mm, yy Sep

0750 France S&P Manufacturing PMI Sep

0755 Germany S&P Manufacturing PMI Sep

0800 EU S&P MFG Final PMI Sep

0830 UK S&P GLOBAL MANUFACTURING PMI Sep

0900 EU Unemployment Rate Aug

1230 US Initial Jobless Clm 26 Sep, w/e

1345 US S&P Global Mfg PMI Final Sep

1400 US ISM Manufacturing PMI Sep

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.