Grain Futures Edge Higher as Traders Await USDA Releases

A backlog of export data alongside the coming WASDE is guiding position resets across major grains.

Overview

Corn futures were fractionally to about 2 cents higher early Monday, soybeans posted small gains, and wheat traded mixed.
USDA is set to post a catch-up Export Sales report for the week ended Nov. 6 this morning, with trade estimates at 1–2 MMT for corn, 0.45–1.6 MMT for soybeans, and 250,000–600,000 MT for wheat.
The monthly WASDE arrives Tuesday, with Bloomberg surveys pegging U.S. ending stocks near 2.145 billion bushels for corn, 306 million for soybeans, and 894 million for wheat.
Delayed CFTC data for Oct. 28 showed managed money cutting 71,479 corn shorts, boosting soybean net longs by 83,160, and trimming Chicago wheat shorts by 33,692.
South American updates included Argentina corn 44% planted and soybeans 45% planted versus last year’s pace, and AgRural placing Brazil’s 2025/26 corn crop at 135.3 MMT with soybeans 94% planted.