As expected, commodity futures traded on generally lighter volumes and will continue that way until a new year of trading starts in January. Corn, wheat, and pigs were up, but the soybean complex, HRS and beef ended in the red. With one trading day yet to go before the extended holiday week begins, the trend is generally lower. 

USDA’s Export Sales was about as expected, with soybean sales at a five-week high, but soymeal sales low. Mexico was the top buyer and this only reinforced concerns about two major rail lines between the two countries closed at the border. Add to that the major canal choke points and while likely temporary, the emphasis is negative.  

Also weighing on the market is improved moisture in...