U.S. Grains Slip Despite Strong Export Sales as Livestock Markets Whipsaw
Weather relief in the Southern Plains outweighed robust U.S. export tallies in price action.
Overview
- U.S. wheat futures fell for the week even after USDA reported a marketing‑year high 887,864 MT in weekly sales and a 132,000 MT white wheat sale to China, with forecasts for heavy Southern Plains rain and higher global supply estimates pressuring prices.
- Corn futures edged lower despite the largest weekly bookings of the marketing year at 2.26 MMT, as IGC nudged world corn production and stocks up 1 MMT and delayed CFTC data showed sizable speculator net shorts.
- Soybeans weakened after USDA confirmed 919,447 MT in weekly sales and daily announcements totaling 1.812 MMT to China this week, while IGC trimmed world soybean output by 2 MMT and cut ending stocks by 2 MMT to 77 MMT.
- Cattle traded choppy and finished lower Friday after President Trump lifted the 40% tariff on Brazilian beef retroactive to Nov. 13, as the USDA Cattle on Feed report showed October placements down 10.02% and on‑feed down 2.17% year over year.
- Tyson said it will close its Lexington, Nebraska plant and move Amarillo, Texas to a single shift, while lean hogs faced volatile fundamentals with record managed‑money net longs in delayed CFTC data and softer pork cutout values late in the week.