{
  "id": 12805992,
  "title": "Soybeans, corn rebound on higher oil prices; US harvest caps upside",
  "url": "https://urgent.news/2026/10/08/soybeans-corn-rebound-on-higher-oil-prices-us-harvest-caps-upside",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T06:08:32.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40443252/soybeans-corn-rebound-on-higher-oil-prices-us-harvest-caps-upside"
  },
  "original_language": "en",
  "account": "Chicago soybeans and corn prices rose on Thursday, recovering from a slump the previous day as higher oil prices and preparations for a monthly agricultural supply-demand report bolstered the outlook. Meanwhile, wheat dipped, though reduced supplies from the Black Sea area due to the Russia-Ukraine conflict kept losses in check. A trader in Singapore noted that this is often the time of year when prices face pressure from US harvests. \"There is some support today because of higher oil prices,\" they explained.\n\nThe soybean contract with the most activity on the Chicago Board of Trade (CBOT) climbed 0.2% to $13.00 a bushel, while corn increased by 0.2% to $5.03 a bushel. Wheat, on the other hand, declined 0.2% to $6.85-1/4 a bushel. Higher oil prices are influencing grain markets because of their increasing use in biofuels. Oil prices are rising due to persistent concerns about supply from the critical Middle East region, exacerbated by a surge in attacks on shipping in the Gulf and the Strait of Hormuz. The escalating price of oil can impact grain markets.\n\nThe US harvest is progressing across the Midwest under mostly clear skies, with fieldwork advancing after heavy rain in late September hindered progress. The market is eagerly awaiting reports from the US Department of Agriculture (USDA) on global supply-and-demand, set for release on Friday, which will include updates on US crops. According to Reuters' surveyed analysts, the USDA is anticipated to reduce its estimate of the average US corn yield while maintaining its soybean yield forecast.\n\nMarket participants are also considering the ongoing war disruption to Black Sea trade against indications of increasing Russian exports via alternative Baltic Sea routes. Grain consultancy SovEcon reported on Wednesday that it had lowered its forecast for Russia's 2026 wheat crop from 88.2 million tons to 87.5 million metric tons, following an earlier projection.",
  "summary": "SINGAPORE: Chicago soybeans and corn firmed on Thursday, recouping some of the previous session’s losses as higher oil prices and positioning ahead of a monthly agricultural supply-demand report underpinned prices. Wheat eased, though a lack of supplies from the Black Sea region amid the Russia-Ukraine war limited losses. “This is typical time of the year when we see pressure on prices because of…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}