Soybeans rise on Chinese demand and US crush data

US soybean, wheat and corn futures rose on Wednesday, recovering from earlier losses triggered by lower crude oil prices.

By 05:03 GMT, the most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.28% at $13.22-1/2 a bushel, marking its third consecutive session of gains.

Wheat rose 0.62% to $7.33 a bushel, while corn gained 0.28% to $5.37-1/4 a bushel.

Soybean prices were supported by a monthly industry report showing that soybean processing volumes in August came in below expectations. Prices also benefited from stronger Chinese demand for US supplies ahead of Chinese President Xi Jinping’s expected visit to Washington later this month.

Soybean and corn prices also received support from concerns over harvest delays. Harvesting has begun across the US Midwest, but heavy rainfall has delayed fieldwork in parts of Iowa, the country’s second-largest producer of soybeans and corn.

Conab, Brazil’s crop agency, expects soybean production to reach 181.64 million metric tons in the 2026/2027 season, up 0.7% from the previous year but still below the US Department of Agriculture’s current forecast of 186 million metric tons.

Wheat rises as Black Sea risks escalate

Wheat prices advanced as hopes for a military de-escalation around the Black Sea grain export region faded following further attacks on infrastructure.

European traders said Algeria’s state grains agency, OAIC, purchased 500,000 metric tons of milling wheat in an international tender that closed on Tuesday.

Analysts expect Statistics Canada to estimate Canada’s 2026 all-wheat crop at around 36.73 million metric tons.

Traders said on Tuesday that commodity funds were net buyers of CBOT corn and soybean futures.