Agriculture News
Weekly export sales for week ended Dec. 1 reported soybean sales over 1.7 MMT, topping expectations by over 500,000 MT and were up over 1 MMT from the previous week. Corn landed mid-range at 691,600 MT.
Soybeans and wheat were mildly firmer in overnight trade, while corn traded narrowly on either side of unchanged.
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Winter wheat futures led a round of followthrough selling in overnight trade, while corn and soybeans faced lighter pressure.
Weekly export sales for week ended Nov. 24 revealed wheat missing low end expectations by over 140,000 MT, while corn and bean sales landed just above their respective low-end estimates.
Drought covers 80% of the U.S., with 74% of U.S. winter wheat area impacted.
Cash cattle price climbs to the highest since May 2015.
Soybean futures led price declines overnight as the market pulled back from strong gains earlier this week. Corn and wheat faced mild selling pressure overnight.
Soybean basis and the average cash price both rose.
District agricultural conditions were mixed, though mostly strong.
Soybean futures pushed to their highest levels since September overnight, while corn and wheat were supported by end-of-the-month corrective buying.