Overview
- Corn futures fell 22 to 24 cents after USDA set yield at 186.5 bpa, production at 17.021 billion bushels and U.S. ending stocks at 2.227 billion, with Dec. 1 stocks reported at 13.282 billion.
- Weekly export inspections showed 1.49 million metric tons of corn and 317,465 metric tons of wheat shipped, both above the prior week and last year’s comparable week.
- Soybeans closed 12 to 16 cents lower as U.S. ending stocks rose 60 million bushels to 350 million, Dec. 1 stocks reached 3.29 billion, exports were cut 60 million and crush was raised 15 million.
- Wheat futures eased as U.S. ending stocks increased to 926 million bushels, Dec. 1 stocks came in at 1.675 billion and winter wheat seedings were reported at 32.99 million acres.
- Cotton finished 50 to 55 points higher after USDA lowered yield to 856 pounds per acre and trimmed production to 13.92 million bales, reducing U.S. ending stocks to 4.2 million.