Soybean Futures Higher on Supportive Demand — Daily Grain Highlights

By Kirk Maltais

--Soybeans for November delivery rose 0.7% to $12.97 3/4 a bushel on the Chicago Board of Trade Tuesday, climbing as demand for soybean exports and crushed soybeans appears to keep futures lifted.

--Wheat for December rose 0.7% to $6.93 1/4 a bushel.

--Corn for December delivery declined 0.1% to $5.22 1/4 a bushel.

HIGHLIGHTS

Higher Interest: Soybean futures led the advance in CBOT grains throughout the day, with buyer interest in U.S. soybeans appearing stronger than it is for other row crops. Not only is China expected to purchase more from the U.S., but higher energy prices are driving demand for soybean crush used in biofuels, AgResource said in a note. "Energy prices are lofty, which is expanding world biofuel production," the firm said.

Morning Doldrums: CBOT grain futures were underwater for much of the day as the 10-year Treasury yield reached its highest level since 2007. Higher yields support a higher U.S. dollar index, which is often a pressure point for grains as a stronger dollar often means grains from other export markets are more affordable.

Moving Forward: Monday's Crop Progress report from the USDA was an initial source of price strength early in the day. The agency said that 18% of the U.S. corn crop is harvested, versus 17% at this time last year. For soybeans it was just the reverse, with 17% harvested versus 18% at this time last year. Both are on track with the 5-year average, but behind what analysts anticipated, RCM Alternatives' Doug Bergman said in a note.

INSIGHT

Going Hungry: A lack of substantive deliverables from last week's U.S.-China summit managed to put weight on futures trading today. "There isn't much happening, which is to say, we are not feeding any bulls this morning," said Charlie Sernatinger of in a note. The next big potential source of news may come from Wednesday's quarterly stocks report from the USDA, which analysts think could be a surprise mover of futures.

Hot Yields: Bonds are expected to continue their sell off even after the 30-year bond yield reached a 24-year high of 5.612%. Upcoming data is expected to drive markets, but yields are biased to the upside as market sentiment is "asymmetrically hawkish in only one direction," SanJac Alpha's Andrew Wells said. For grains, the outlook on yields points to continued strength for the U.S. dollar--a pressure point for grains competing in export markets.

AHEAD

--Cal-Maine Foods Inc. will release its 1Q 2027 earnings report at 6 a.m. ET Wednesday.

--Conagra Brands Inc. will release its 1Q 2027 earnings report before the stock market opens Wednesday.

--The EIA will release its Weekly Petroleum Status Update report at 10:30 a.m. ET Wednesday.

--The USDA will release its quarterly Grain Stocks report at noon ET Wednesday.

Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

September 29, 2026 16:02 ET (20:02 GMT)