News
Corn futures slightly lower, soybeans firmer in sideways, pre-holiday trade; winter wheat ends five-week losing streak.
Weekly export data for week ended Dec. 8 showed corn topping expectations by nearly 60,000 MT, with wheat nearly 120,000 MT above the top-end range. Soybean export sales breached the top-end range by 943,000 MT.
The National Weather Service (NWS) 90-day forecast continues to call for increased chances of below-normal precip across most of HRW wheat areas during the January through March period.
As of Dec. 13, 78% of the U.S. was experiencing abnormal dryness/drought, according to the U.S. Drought Monitor, seven points below the peak at the beginning of November.
Mexican officials to visit Washington Friday to defuse GMO corn trade dispute
Corn, soybeans narrowly mixed, wheat firmer, as traders watch U.S., South American weather.
J. P. Morgan raises China economic forecast, House passes short-term funding bill and Argy crop forecasts fall...
Corn, soybean and wheat futures traded within narrow ranges in quiet, two-sided price action overnight.
Soybeans higher on soymeal strength, strong exports; winter wheat lower amid heavy snow in Northern Plains.
Basis remains above average for both corn and soybeans.
Fed officials projected the federal funds rate will rise to 5.1% by the end of 2023, up from 4.6% projected in September.