World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary

Wheat could only manage a steady to slightly weaker day today as soybeans were very strong and corn closed a nickel higher. The market's attitude is still that world supplies are plentiful and demand is weak. General Comments The markets were all about soybeans today, and we expect that will be the case for the next several weeks. Funds were covering shorts on more export sales to China coupled with a weather forecast for the western Corn Belt that is cool and also dry. That led soybean futures to trade more than 20 cents higher and pushed the November contract back above $11.00. Corn followed with a meager rally, but wheat would have none of it.USDA announced 486,000 MT of soybean sales to China with 66,000 of the total listed as optiona...

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