Corn

Export data shows that corn orders for the week ending September 12 were nearly 848 thousand tons, within the estimated range of 550 thousand to 1.4 million tons. This is an improvement over the previous week and 49.5% higher than the same period last year. Mexico was the largest buyer with over 280 thousand tons, followed by 183 thousand tons sold to unknown destinations.

The International Grains Council has revised its estimate for global corn production down by 2 million tons, to 1.224 billion tons, while consumption has increased by 1 million tons. This has tightened global stocks for the 2024/25 season by 1 million tons, bringing the total to 276 million tons.

The settlement price for December Corn contracts on September 19 was 405.75 cents per bushel, down 2% compared to the previous session.

Soybeans

USDA's weekly Export Sales report showed soybean sales for the week ending September 12 reached 1.748 million tons (MMT), exceeding the market estimate range of 0.5 to 1.6 MMT. This figure is higher than the previous week and significantly higher than the same period last year. The largest buyer was China, with 974 thousand tons, followed by Mexico with 166 thousand tons.

Soymeal sales showed a net reduction of over 2 thousand tons for the 2023/24 marketing year, with 283 thousand tons reported for 2024/25. Both figures were within market expectations. Soybean oil sales were substantial, reaching over 46 thousand tons for the current marketing year, with 252 tons sold for 2024/25.

The settlement price on September 19 was 1,013 cents per bushel, unchanged from the previous session.

Wheat

Export data showed total wheat sales for the week ending September 12 reached only 246 thousand tons. This figure was below market expectations of 300 to 650 thousand tons for 2024/25 wheat sales and was the lowest since the first week of July. The largest buyer was Mexico with 59 thousand tons, followed by the Philippines with 57 thousand tons. Sales for the 2025/26 marketing year were within the expected range of 0 to 50 thousand tons, totaling over 11 thousand tons.

The settlement price on September 19 was 565.5 cents per bushel, down 2% compared to the previous session.

Source: Compiled data