Group 1 - Chicago futures market saw a decline in corn, wheat, and soybean prices on September 18, with corn down 2.25 cents to $4.2450 per bushel, wheat down 3.25 cents to $5.2500 per bushel, and soybean down 5.00 cents to $10.3875 per bushel, reflecting a drop of 0.53%, 0.62%, and 0.48% respectively [1] - The trading volume for agricultural futures at the Chicago Board of Trade (CBOT) was low, attributed to the acceleration of crop harvesting and ongoing debates regarding corn and soybean yields in the Midwest [1] - The USDA reported that the U.S. sold 110,000 tons of corn to Mexico for delivery in the 2025-2026 marketing year, with export sales for the week ending September 11 showing wheat at 13.9 million bushels, corn at 48.5 million bushels, and soybeans at 33.9 million bushels [1] Group 2 - Brazil's National Supply Company (CONAB) forecasts a soybean production of 177.7 million tons for the 2025-2026 marketing year, a 3.7% increase year-on-year, as farmers expand planting areas due to profitable conditions [2] - The 2025-2026 U.S. soybean export estimate has been revised down to 1.39 billion bushels, which is 295 million bushels lower than the USDA's report, with ending stocks expected to exceed 545 million bushels and an average yield of 53 bushels per acre [2] - Due to large supplies and inventory levels, corn and wheat prices are expected to follow the downward trend of soybean prices, with U.S. corn supply projected to be close to 18 billion bushels for the 2025-2026 marketing year [2]

Group 1: Corn Market Analysis - The Chicago futures market saw mixed price movements for corn, with December contracts closing at $3.9450 per bushel, down 13.25 cents or 3.25% from the previous trading day [1] - The USDA's August crop report indicated a corn production of 16.7 billion bushels, an increase of 1.875 billion bushels from last year, with a record yield of 188.8 bushels per acre [1] - The report also highlighted a significant increase in corn planting area to 97 million acres, exceeding the USDA's June estimate by 2.1 million acres, contributing to an oversupply in the corn market [1] Group 2: Soybean Market Analysis - The USDA reported a decrease in soybean planting area by 2.9 million acres to 80.9 million acres, while the yield reached a historical high of 53.6 bushels per acre, resulting in a total production of 4.292 billion bushels, which is 74 million bushels lower than last year [2] - The forecast for U.S. soybean exports was revised down by 40 million bushels to 1.705 billion bushels, with ending stocks adjusted to 290 million bushels [2][3] - Global soybean ending stocks for the 2025-2026 period were lowered to 12.49 million tons [3] Group 3: Wheat Market Analysis - The USDA's report indicated stable wheat production, with a slight downward adjustment of 2 million bushels, while exports were increased by 25 million bushels, leading to a reduction in ending stocks to 869 million bushels, which is still 18 million bushels higher than last year [3] - Global wheat ending stocks for the 2025-2026 period are projected at 26.01 million tons [4] - The report suggests that the oversupply in the corn market will overshadow the wheat market dynamics, with potential increases in wheat production from major exporting countries [3][4]