South American Crop Consultant Dr. Michael Cordonnier, however, has a neutral to positive bias toward the Argentine crops.
Soybeans ended around 8 cents higher, with corn up 1 to 2 cents. Wheat futures ended weaker despite a weaker tone in the dollar index. Livestock futures ended sharply higher.
Corn and soybean futures were supported overnight by EPA’s RFS announcement, while wheat saw spillover support. Cattle are weaker and hogs are firmer on short-covering.
A manufacturing index called PMI is being published today for many nations. Some Asian and European PMIs for November showed signs of improving economies. PMIs and a lower dollar led to buyer interest in overnight grain trade.
Our weighted Crop Condition Index shows the HRW crop improved 3.35 points from last week and the SRW crop improved marginally.
These changes were widely expected. Get all the volume targets here.
Corn ended mostly 5 cents higher, with soybeans up 7 to 8 cents. SRW wheat was mixed, while HRW and HRS were firmer. Cattle ended lower and hogs were mixed amid spreading.
Gail Martell points out a once severe drought has been diminished to patchy areas of the Great Plains and Midwest.
Corn is mostly 2 cents higher, with soybeans up 4 to 5 cents. Wheat is favoring a firmer tone and livestock futures are under pressure.
As of Tuesday, December 1
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