U.S. Drought Monitor shows 58% of the U.S. winter wheat crop area is covered by drought conditions as of Dec. 21.
Soymeal and soyoil export sales came in above expectations.
53% of the winter wheat crop remains in drought
Weekly corn and wheat export sales hit marketing year high
Drought-affected areas expanded and intensified on the Drought Monitor map in areas of the South including Louisiana, Arkansas and Texas as well as in the Southern Plains.
The USDA increased U.S. and global wheat and corn carryout numbers above pre-report estimates. Meanwhile, U.S. and global cotton and soybean carryout numbers were under pre-report estimates.
As of Nov. 30, 52% of U.S. winter wheat area was covered by drought conditions, up from 49% the previous week.

Tim Hoskins