Overview
- Corn futures gained after USDA reported 1.99 MMT in sales for the week of October 30, with additional daily private deals of 100,800 MT to Colombia and 392,500 MT to Mexico.
- Record weekly ethanol output of 1.126 million barrels per day supported corn demand as inventories rose to 22.511 million barrels, according to EIA data.
- Soybean sales totaled 1.248 MMT for the week of October 30, including 232,000 MT to China, and Treasury Secretary Bessent said China remains on track to complete the 12 MMT purchase pledge by late February.
- Wheat posted mixed trade after USDA logged 505,415 MT in weekly bookings and Statistics Canada raised national wheat production to 39.96 MMT, above prior estimates.
- Cattle futures extended a sharp rally with live cattle up $1.75 to $2.50 and feeders up $3 to $4.75, while cotton fell 30 to 38 points as upland bookings hit a marketing‑year low of 81,530 RB.