Overview
- The USDA confirmed 792,000 metric tons of U.S. soybean sales to China on Tuesday and another 330,000 metric tons on Wednesday.
- Soybean futures eased from a 17-month high reached Tuesday as profit-taking and questions about continued Chinese demand pressured prices.
- U.S. corn export inspections hit 2.054 million metric tons for the latest week, the largest since April 2021, with marketing-year shipments up 73% from a year ago.
- USDA’s updated reports put U.S. corn yield at 186 bpa with production at 16.752 billion bushels, trimmed soybeans to 53 bpa and 4.253 billion bushels, and raised U.S. wheat ending stocks to 901 million bushels.
- Livestock markets weakened sharply, with live cattle down roughly $5 on Wednesday as beef values were mixed and cash trade remained light.