Soybean prices are on the decrease in the United States as harvesting progresses. By September 17, farmers have harvested 5% of planned soybean crops (3% last year and a five-year average of 4%). Softening soybean meal and oil markets have additionally affected soybean quotes.

            Large volumes of corn shipped from Brazil, along with growing competition from the U.S., are putting pressure on global prices. According to Conab, farmers harvested 96% of the 2022-23 safrinha corn crop by September 17, while harvesting was already complete by the same time last year.

            Corn prices are on the decrease in the United States as harvesting progresses. By September 17, farmers have harvested 9% of planned corn crops (7% last year and an average for 5 years) and planted 15% of the projected areas under winter wheat (19% and 16%, respectively).