Overview
- USDA raised U.S. corn production to 17.021 billion bushels and projected ending stocks at 2.227 billion, driving front-month futures down 22–24 cents Monday with additional losses Tuesday.
- Soybean adjustments showed a 53 bpa yield and 4.262 billion bushels of output with U.S. ending stocks lifted to 350 million; prices fell 9–11 cents Tuesday as soymeal weakness added pressure.
- Wheat turned lower after December 1 stocks were reported at 1.675 billion bushels and U.S. ending stocks rose to 926 million, with winter wheat seedings at 32.99 million acres.
- Cotton gained after USDA trimmed U.S. production to 13.92 million bales and cut ending stocks to 4.2 million, extending Monday’s rally into Tuesday morning trade.
- Demand signals stayed active as USDA reported 1.49 MMT of weekly corn inspections and private sales of 204,000 MT to South Korea plus 310,000 MT to unknown buyers; USDA also confirmed soybean sales to China and Mexico.