Overview
- USDA export reports show 1.99 MMT of corn sold for the week of Oct. 30, near the top of trade estimates and the third-largest weekly total of the marketing year.
- Soybean bookings totaled 1.248 MMT for that week, including 232,000 MT to China, marking the first verified Chinese purchases in the catch-up data.
- Treasury Secretary Bessent said China remains on pace to complete the pledged 12 MMT of U.S. soybean buys by late February, with USDA-confirmed sales just over 2.25 MMT so far.
- EIA data reported record U.S. ethanol production at 1.126 million barrels per day for the week ending Nov. 28, with stocks rising to 22.511 million barrels.
- Statistics Canada put 2025 wheat output at 39.96 MMT and canola at 21.8 MMT as U.S. wheat sales reached a three-week high of 505,415 MT, while cattle and hog futures extended gains on tighter near-term supplies.