Corn is 1 to 2 ½ cents lower.
- Corn futures are on track for a weekly loss, despite robust export sales.
- Analysts surveyed by Bloomberg, on average, look for USDA to lower its estimate of U.S. corn ending stocks by 8.2 million bushels from its November figure to 2.146 billion bushels on Tuesday.
Soybeans are 8 to 10 cents lower.
- Soybean futures extended early losses, with January trading below support at $11.13 ¼, setting up a potential test of important psychological support at $11. Meal futures were lower.
- USDA reported a 462,000 MT daily soybean sale to China for delivery during 2025-26.
- Brazil’s soybean shipments in November jumped 64% from year-ago to 4.2 MMT.
- The USDA attache in Beijing on Thursday left the forecast for China’s 2025/26 marketing year soybean imports at 106 MMT, down 1 MMT year-over-year as the government “continues efforts to limit import growth. The attache sees China soybean production at 19.9 MMT.
- South American weather remains in view, with heavy rains in central Brazil and the north, while concerns about dryness in the south rise.
Wheat futures are 2 to 5 cents lower.
- Wheat rallied early this week as saber-rattling by Russian President Vladimir Putin raised fear over potential transportation disruptions in the Black Sea region. Putin threatened to cut Ukraine off from the sea, while U.S.-led talks to end the conflict failed to produce a breakthrough.
- Ample global supplies continue to hang over the wheat market, with Canada this week affirming its estimate of a record crop.
- The Bloomberg survey saw analysts estimate U.S. wheat ending stocks down 7.2 million bushels at 893.8 million bushels in next week’s WASDE, while global carryout is seen rising 1.4 MMT to 272.8 MMT.
Live cattle are 50 cents to a dollar higher, while feeders are up around $2.
- The U.S. Food and Drug Administration said in a press release on Thursday that it has conditionally approved Exzolt Cattle-CA1 (fluralaner) topical solution for the prevention and treatment of New World screwworm (NWS) larval infestations, and the treatment and control of cattle fever tick in beef cattle two months of age and older and replacement dairy heifers less than 20 months of age.
- Cash cattle trade this week, although light, has taken place around $5.00 above last week’s average cash price.
- Wholesale beef prices declined Friday morning, with choice down 4 cents at $362.68 and select off 84 cents at $349.48, according to USDA.
Hog futures are around 80 cents higher.
- Malaysia has banned most imports of pork and pork products from Spain with immediate effect following an outbreak of African swine fever there, the Veterinary Services Department said on Friday.
- The CME lean hog index is up 16 cents to $81.83, ending the extended seasonal decline.