Overview
- USDA reported a private export sale of 462,000 metric tons of U.S. soybeans to China, lifting known Chinese purchases this marketing year to 2.845 million tons.
- Backlogged Export Sales releases showed 1.248 million tons of soybeans and 1.99 million tons of corn were sold in the week of October 30, with soybean meal and oil bookings smaller.
- Treasury Secretary Bessent said China remains on pace to complete the pledged 12 million tons of soybean purchases, with deliveries now expected by the end of February.
- Soybean futures fell about 10–12 cents by Friday midday as traders recalibrated positions, with corn easing and wheat mixed ahead of Monday’s export update and Tuesday’s WASDE.
- Statistics Canada pegged canola output at 21.8 million tons and Canadian soybeans at 6.79 million tons, Brazil logged 4.2 million tons of November soybean exports, and U.S. ethanol output hit a record 1.126 million barrels per day, while live cattle futures extended gains with cash trade near $220–$222.