Soybeans down 7¢. Friday, December 29, 2023
March corn is flat this morning while January soybeans are down 7¼¢.
CBOT wheat is down 4¼¢. KC wheat is up slightly. Minneapolis wheat is down less than a penny.
“Grain and oilseed futures were mostly quiet overnight ahead of what is likely to be a quiet session today, with volume low and many traders looking ahead to a three-day New Year’s holiday weekend,” says The Brock Report. “Favorable South American weather and lack of fresh export sales hang over the market.”
This morning USDA released the weekly Export Sales report. Soybean and wheat export sales for 2023/2024 fell within expectations while corn was slightly higher than expected:
- Wheat: Net sales of 276,400 metric tons
- Corn: Net sales of 1,242,100 metric tons
- Soybeans: Net sales of 983,900 metric tons.
Live cattle are up 13¢. Feeder cattle are down 30¢. Lean hogs are up 23¢.
Crude oil is up 27¢.
Milling wheat is up on the MATIF trade. Corn and No. 1 soybeans are up on the Dalian trade while No. 2 soybeans are down.
Read also
Palm oil prices rise 3.5% amid stronger soybean oil market and growing stocks
World’s largest cocoa producer forecasts 21–25% decline in harvest
Argentina increases wheat exports as Brazil faces a smaller harvest
China raises soybean import estimate to 111.6 mln tons but expects lower purchases...
Ust-Luga overnight incident: Could Baltic grain exports face delays?
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon