Grains in the Green. Thursday, December 5, 2024
March corn is up 1¾¢ this morning.
January soybeans are up 6¾¢.
March wheat contracts are also higher. CBOT wheat is up 5¾¢. KC wheat is up 7¼¢. Minneapolis wheat is up 7¼¢.
This morning, USDA announced China is buying 136,000 metric tons of soybeans for the 2024/2025 marketing year.
USDA also released the weekly U.S. Export Sales report for the week ending Nov. 28. Regarding the report, The Brock Report said:
“Net U.S. corn export sales for the week ended Nov. 28 came in at 69.1 million bushels, topping trade expectations that ran 31.5-61 million bushels and the previous week’s sales of 44.4 million bushels. The sales total should be supportive for corn prices, especially since it was for a holiday-shortened week.
“Net weekly U.S. soybean export sales came in at 85 million bushels, near the high end of trade expectations that ran 40.5-88 million bushels, and down only slightly from the previous week’s big sales of 92.2 million bushels. The sales total looks supportive for soybean prices….
“Net weekly U.S. wheat export sales came in at 13.9 million bushels, in line with trade expectations that ran 11-22 million bushels and slightly above the previous week’s sales of 13.5 million bushels. The sales data looks neutral for wheat futures.”
February live cattle are down 38¢ this morning. January feeder cattle are down 25¢. February lean hogs are up 38¢.
January crude oil is up 20¢.
The U.S. Dollar Index December contract is down to 105.90.
December S&P 500 futures are down 1 point. December Dow futures are down 45 points.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
Read also
Black Sea & Danube: Crop and Export Forecast
Ukraine to expand sunflower and rapeseed area while soybeans decline — FAS USDA
Wheat faces biggest weekly drop in eight months on higher inventories
Cargill’s head of world trading departs firm after three decades
Indonesia deploys African weevils to boost palm oil output
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