Corn

The USDA reported a private export sale of nearly 128,000 tons for new crop shipments.

Some South Korean buyers acquired a total of 136,000 tons in overnight tenders. Canada's corn production is projected at 14.97 million tons.

Corn prices reacted slowly to the shipment report but increased overall. The settlement price for December Corn contracts on August 27 was 392.75 cents per bushel, up more than 1.6% from the previous session.

Soybeans

Total soybean imports by the EU reached 1.77 million tons from July 1 to August 23, down from 2.3 million tons during the same period last year. Canada’s canola production is forecasted at 19.2 million tons, up from the previous year, while soybean production is expected to be 7.2 million tons.

The November Soybean contract price saw a slight increase. The settlement price on August 27 was 986.5 cents per bushel, up 0.59% from the previous session.

Wheat

EU soft wheat exports totaled 3.93 million tons from July 1 to August 23, down nearly 1.1 million tons from the same period last year. Canadian wheat production is estimated at 34.1 million tons, significantly higher than the previous year.

The December Wheat contract price surged sharply after a series of declines. The settlement price on August 27 was 535.5 cents per bushel, up 2% from the previous session.

Source: Compiled