Corn Shipments Top 1 Billion Bushels as Soybeans Slide on Weak Exports

Overview

• Front-month soybeans fell 9–10 cents on Monday, and the U.S. cash bean average slipped 8 cents to $9.80 3/4.
• Corn futures traded 6–7 cents lower intraday, with the national cash price near $4.00 after a 6 3/4 cent drop.
• USDA inspections reported 1.301 MMT of corn shipped for the week of Dec. 25, lifting marketing-year exports to 25.57 MMT (1.006 bbu), up 66% year over year and the first time exceeding 1 bbu before year-end.
• Weekly soybean loadings totaled 750,312 MT, down 19% from the prior week and 54% from a year ago, leaving the marketing-year tally 46% below last year.
• USDA confirmed a 100,000 MT soybean sale to Egypt as traders navigated thin holiday liquidity, reduced soybean open interest after options expiration, and delayed government reports.