Corn and soybean futures slide on bigger US harvest outlook
According to Reuters, Gulf barge corn basis firmed while CBOT corn fell to four-month lows, and StoneX lifted its 2026 US yield forecasts.
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what happened
Reuters reports that barge corn basis bids at the Gulf firmed on Tuesday as the Midwest harvest nears its end, though export premiums fell. CBOT corn futures dropped to four-month lows, which slowed farmer sales, while soybean futures touched a 2.5-month low on expectations of large US harvests.
After the close, StoneX lifted its average 2026 US corn yield estimate to 183.1 bushels per acre from 182.1, and its soybean yield forecast to 55.0 bushels per acre from 54.1. Agriculture officials also recorded 315,000 metric tons of US corn sold privately to Mexico, 136,000 tons to South Korea, and 134,000 tons of soybeans to undisclosed destinations.
why it matters
For markets this points to a larger supply outlook: higher yield estimates weigh on futures, while export demand is not yet supporting prices. The 11-cent gap between November and January soybean contracts is pushing traders to roll their bids forward before the November contract expires next week.
market impact
Corn and soybeans: higher harvest estimates pressure CBOT futures
- Corn (CBOT) pressure down — expectations of a larger US harvest and a four-month low in futures
- Soybeans (CBOT) pressure down — expectations of large US harvests and a 2.5-month low in futures
tags
instruments
sources
- Corn barge bids firm, soybean bids steady — Reuters, 4 November 2026 at 00:26 UTC
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