Continued good export demand continued to underpin corn and soybean futures on Monday, while wheat ended mixed.
Soybeans were buoyed as the USDA this morning reported private export sales of 259,000 tonnes to unknown destinations and 130,000 tonnes to China, both for 2024-25 shipment. Expectations that tomorrow’s USDA weekly export sales will further confirm hefty export business for American supplies also supported soybeans. November beans gained 5 ¾ cents to $9.97 ½, and January was up 4 ½ cents at $10.05.
For corn, the USDA reported a private export sale of 100,000 tonnes to unknown destinations for 2024-25 shipment. Ideas that weekly corn export sales could be as high as 4 million tonnes in tomorrow’s USDA report added to the upside. December gained 2 ½ cents to $4.19, and March gained 2 ¾ cents to $4.32.
Strength in the US dollar helped to pressure wheat, although some support still came from the gains in corn. December Chicago wheat was up 2 ½ cents at $5.78 ½, while December Kansas City and Minneapolis each slipped a penny to $5.85 ½, and $615 ½, respectively.
