SOYBEAN futures at the Chicago Board of Trade were stronger on Thursday, as crude oil prices continued to increase significantly with spillover going into the vegetable oils.
The United States Department of Agriculture issued its export sales report, showing old crop soybean sales of 383,500 tonnes for the week ended Feb. 26. Those were towards the low end of trade guesses. Soymeal export sales were 255,800 tonnes and those for soyoil were 7,700 tonnes, as both met market predictions.
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AgroConsult added 850,000 tonnes to its estimate of the Brazil soybean crop, now at 183.10 million.
CORN futures were significantly higher as well on Thursday, due to good export sales.
U.S. corn exports sales were 2.02 million tonnes of old crop, which well exceeded market expectations. There were also new crop sales of 154,000 tonnes.
South Africa’s corn output is to increase to 17.01 million tonnes in 2025/26 compared to 15.05 million the previous year.
Statistics Canada forecast farmers to plant 3.85 million acres of corn for grain, a pinch higher than last year’s 3.78 million acres.
WHEAT futures were stronger on Thursday, in sympathy with soy and corn.
The USDA reported wheat export sales of 203,100 tonnes of old crop, barely within the bottom range of pre-report estimates. New crop sales were 55,000 tonnes.
StatCan projected planted all wheat acres at 26.74 million compared to 27.03 million in 2025/26. Of that, spring wheat acres were pegged at 18.78 million and durum at 6.38 million, with each down slightly from last year.
Ukraine said its cumulative grain exports for 2025/26 reached 22.30 million tonnes so far compared to 29.60 million a year ago. The transporting of all grains to Ukraine’s Black Sea ports was 2.30 million tonnes in February, up 5.5 per cent from January.
