By John Perkins, Brownfield Ag News — August 28, 2026

Grain and oilseed markets finished the week on a firmly bullish note, with wheat, soybeans and corn all posting additional gains in Friday's trade. The rally comes at a pivotal point in the marketing calendar: the 2026/27 marketing year for corn and soybeans begins September 1, and the USDA's monthly supply and demand report due September 11 will give traders the government's latest read on crop size just as harvest approaches.

Soybeans

Soybeans were higher on fund and technical buying, capping a solid week-to-week rise. Ahead of the open, unknown destinations purchased 226,000 tons of 2026/27 U.S. soybeans and China bought 182,000 tons, continuing the hot streak for global soybean demand heading into the start of the new marketing year.

Chinese grain storage firm Sinograin will reportedly put 68,000 tons of previously purchased beans up for auction next week, the smallest offer in this recent run of sales. The size of these state reserve auctions is watched as a signal of how much internal supply China is willing to release, with smaller offerings generally read as supportive for import demand.

More hot, dry weather in parts of the region could hamper yield potential. The USDA's updated supply, demand and production numbers are due out September 11, and ahead of that, the USDA's final crop progress and condition update of August is scheduled for Monday afternoon.

Soybean meal and oil futures were sharply higher on the fundamental implications of a smaller soybean crop and solid demand. The Netherlands and Germany each picked up 100,000 tons of 2026/27 U.S. bean meal Friday morning.

Corn

Corn was modestly higher on fund and technical buying, ending the week with steep gains. The market is monitoring yield potential, with at least some cut by the USDA expected next month. Demand is solid, so any crop loss could have a significant impact on supply.

In general, grains and oilseeds are overbought, but the fundamental concerns are bullish enough for now to shrug that off, and traders might also be trying to ration demand. There is more export competition from Argentina and Brazil, but a smaller crop in the European Union and significantly slower movement for Ukraine could underpin U.S. sales.

Traders are also watching second crop harvest and first crop planting in Brazil, with CONAB's updated numbers due September 15. The Buenos Aires Grain Exchange says 88% of Argentina's corn crop is harvested.

Wheat

The wheat complex was up on speculative and technical buying, finishing the week in sharply higher territory. Traders continue to expect at least some improvement in global demand due to Black Sea export issues. While that bump in demand has not materialized yet, there is no end to Russia's war on Ukraine in sight, and port infrastructure will take time to repair. Ukraine and Russia are typically among the world's largest wheat exporters, so disruptions there ripple through global buyer sourcing decisions.

Ongoing drought in parts of the U.S. Plains could limit hard red winter wheat planted area, while sections of the northern Plains are expected to see harvest delays due to rain. Globally, in addition to the Black Sea, wheat is largely looking at Argentina, Australia, Canada and Europe. The Buenos Aires Grain Exchange says Argentina's winter wheat crop is fully planted.

Source: Brownfield Ag News