News
Corn sales during week ended Nov. 2 totaled 1.015 MMT for 2023-24, up 36% from the previous week and 4% from the four-week average.
Higher-than-expected corn and soybean yields in some Corn Belt locations, along with a modest rally in corn prices, contributed to this month’s rise in farmer sentiment.
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Corn favored the downside overnight, soybeans reversed early losses and went into the break on session highs and wheat favored the downside though is well off session lows.
Soybeans pulled back from recent strong gains amid corrective selling overnight, while corn and wheat also traded lower.
Both crops remain well above year-ago levels.
Weekly corn export inspections outpaced pre-report expectations by 135,000 MT, while wheat inspections missed by over 100,000 MT.
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Soybeans and corn are higher with wheat futures under light pressure. Cattle futures are under pressure with lean hogs off to a positive start to the week...