Overview
- Soybean futures climbed 10 to 13 cents Thursday and cash prices rose, as delayed data showed 870,533 metric tons in sales for the week of September 25 and USDA flagged long-delayed large daily sales for release at noon ET Friday.
- Corn futures gained 4 to 6 1/2 cents with cash up as EIA reported ethanol output at 1.075 million barrels per day and a stocks draw, while export sales totaled 1.394 MMT and South Korea and Taiwan booked new corn tenders.
- Wheat finished mixed after midday strength, with traders eyeing U.S. ending stocks near 867 million bushels in Friday’s WASDE and noting fund shorts in KC and Chicago, while EU and Argentina outlooks edged higher in fresh estimates.
- USDA confirmed export sales reporting will run twice weekly until a backlog is cleared by January 2 after a shutdown that halted the October WASDE and routine releases.
- Analysts highlighted short covering in corn and wheat this week and technical breaks above 100-day averages in U.S. wheat that could accelerate repositioning when official figures land.