Soybeans rebound on bargain buying, US harvest limits upside

Chicago soybean futures edged up 0.1% to $12.44-1/2 a bushel on Wednesday, ending a two-session decline, Business Recorder reported. Corn and wheat also advanced 0.2% each, with wheat supported by continued supply interruptions around the Black Sea.

Buying interest followed this week’s multi-month lows, while estimates of a smaller Brazilian crop lent soybeans some support. Serasa Experian projected Brazil’s 2026/27 harvest at 163.6 million metric tons in a strong El Niño scenario, against 181.2 million tons with neutral weather.

The US harvest was a counterweight: soybean collection had reached 79% by Sunday and corn 60%, according to the US Department of Agriculture. Traders also pointed to a weaker Brazilian real as a risk to US grain export demand.