Corn is lower at midday after closing higher in eight of the last nine trading sessions.
Corn export sales last week came in near the lower end of expectations totaling 30.6 mb, Mexico was the top buyer.
US corn used for ethanol in November totaled 465 mb, 1.7% higher than November of 2023.
Soybeans are trading lower at midday after a strong close to end 2024.
Much of Argentina, Uruguay, southern Brazil and Paraguay will be mostly dry through the next two weeks.
US soybean crushing in November totaled 210 mb, 5% higher than the same period last year according to the USDA.
All three wheat classes are trading lower at midday yet again after the US Dollar traded to 26-month highs this week.
A system will bring widespread snowfall across the heart of the US this weekend, snow totals will be heavier across the eastern Plains. Cold will likely set in for the next few weeks which may harm dormant winter wheat not covered by snow.
Wheat export sales were poor last week coming in at just 5.2 mb, this was a marketing year low and down 77% from the previous week.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
