U.S. soybeans, corn lower as wheat mixed
By Glen Hallick, MarketsFarm
Glacier FarmMedia MarketsFarm – Intercontinental Exchange canola futures pulled back on Monday, due to an advancing Prairie harvest, lacklustre exports and pressure from outside markets.
Alberta reported on Friday that its canola harvest was 13 per cent complete. Rain has been forecast for southern Manitoba over the next few days, while most of Alberta and Saskatchewan are to remain dry, aiding their harvests.
Five weeks into 2025/26, canola exports of nearly 530,000 tonnes are less than half of those a year ago, the Canadian Grain Commission reported.
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“Without China, we’re definitely fading behind really fast,” an analyst said.
Also, the analyst suggested 2024/25 canola ending stocks of 1.60 million tonnes calculated by Statistics Canada may have been underestimated.
StatCan will update its crop production estimates on Wednesday. Last month, the department projected the 2025/26 canola harvest at 19.94 million tonnes.
The November canola contract was unable to remain above its 20-day moving average.
Losses in Chicago soybeans and soymeal, along with those in European rapeseed weighed on canola values. Small increases in soyoil weren’t enough to stem the declines. However, the vegetable oils received support from upticks in crude oil.
The Canadian dollar swung higher Monday afternoon with the loonie at 72.61 U.S. cents compared to Friday’s close of 72.21.
There were 38,770 contracts traded on Monday, compared to 48,562 on Friday. Spreading accounted for 23,720 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Nov 632.30 dn 7.40
Jan 644.80 dn 7.40
Mar 656.00 dn 7.70
May 665.70 dn 8.00
SOYBEAN futures at the Chicago Board of Trade were lower on Monday, despite a strong showing in export inspections as China has yet to buy any 2025/26 United States soybeans.
The U.S. Department of Agriculture reported export inspections for the week ended Sept. 11 included 804,532 tonnes of soybeans, up 80.2 per cent from the previous week. Cumulative exports were 1.07 million tonnes compared to 747,598 a year ago.
The monthly report from the U.S. National Oilseed Processors Association showed 189.81 million bushels of soybeans were crushed in August. That handily surpassed the trade estimate of 182.86 million bushels and is 12.9 per cent more than the previous August. Soyoil stocks rose 9.4 per cent August-to-August at 1.25 billion pounds.
AgRural pegged the planting of the next Brazil soybean crop at 0.12 per cent complete.
CORN futures were lower on Monday as U.S. growers are facing the largest corn harvest on record.
Export inspections of U.S. corn tallied 1.51 million tonnes, up 4.7 per cent from the previous week. Total shipments reached 2.16 million tonnes versus 1.05 million this time last year.
The USDA announced a private sale of 148,971 tonnes of 2025/26 corn to unknown destinations.
Safras and Mercado forecast the first corn crop in Brazil’s south-center region at 25.48 million tonnes versus 24.73 million in 2024/25.
AgRural estimated Brazil’s first corn crop at 17 per cent planted.
WHEAT futures were mixed on Monday, with Minneapolis unchanged, Kansas City dipping and Chicago nudging up.
The USDA said wheat export inspections were 755,073 tonnes, improving 76 per cent from the previous week. Year-to-date shipments were 7.86 million tonnes compared to 7.01 million a year ago.
