US soybean and corn prices rise for three consecutive days, with first-day inspection data increasing concerns over output
智通财经2026/08/18 13:21- Chicago corn and soybean futures rose for the third consecutive session on Tuesday, as the first-day results of the Pro Farmer field survey showed crop growth indicators in South Dakota and Ohio were below last year’s levels and the three-year average, raising market concerns about yield prospects this season.
- The corn contract reached its highest level since April last year during intraday trading, closing up about 0.6% for the day, while soybeans rose about 0.9%, hitting the highest point since late July. Stronger crude oil prices and purchasing demand from China also provided additional support for the rally.
- Last week, the US Department of Agriculture already cut its corn and soybean yield forecasts. Although crop ratings were lowered again this week, the extent was in line with market expectations. The field survey will next enter the core Corn Belt, and where the data trends will be a key short-term price guide.
- Data from the National Oilseed Processors Association shows member companies crushed about 217 million bushels of soybeans in July, up about 1% from the previous month and nearly 11% year-on-year, indicating resilient end-user demand.
- Wheat futures were little changed, with the market consolidating above recent gains that had been driven by concerns over Black Sea supply disruptions due to geopolitical conflict, as shipments from major export ports such as Russia’s Novorossiysk remain affected.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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