August 24, 2026
Grain Overview
Grain markets are starting the week mostly higher, while soybeans remain under pressure. Corn continues to find support from last week’s Pro Farmer Crop Tour, which projected a smaller crop and production potentially falling about 1 billion bushels short of expected demand. Keep in mind that Pro Farmer has statistically overestimated crop losses below trend, but still, the direction of lower yields is in play. Many are now thinking USDA will produce a yield in the September report in the 178-180 BPA range.
The US corn carryout is heading lower, as demand for corn will not come in as low as USDA has on its balance sheets. It’s a decades-long problem the USDA has had, coming in too low on demand at the beginning of the crop year, then needing to race later the following summer to correct it. The European drought and their need to source corn from world providers will include the US. Just 3 MMTs of US sales to Europe (roughly 100 Mil Bu) would put additional upward pressure on corn prices into the new year.
Soybeans have a different story. The tour estimated yield near 53 BPA, putting it
