News
Corn sales during the week ended Oct 10, rose 82% from the previous week and noticeably from the four-week average. Soybean sales were also notable at 1.70 MMT, rising 35% on the week.
Corn and soybean futures mildly extended Thursday’s corrective gains during overnight trade, while wheat pivoted around unchanged.
Sharp drop in weekly cash corn and soybean prices as harvest remains rapid.
ENSO-neutral conditions remain in place, but CPC signals there are 60% odds a weak La Niña event will develop by the end of November and persist through winter.
Soybeans continue to lead weakness, though corn and wheat also saw a resurgence of selling pressure overnight.
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Corn, soybeans and the winter wheat markets faced price pressure overnight, while spring wheat traded mildly higher.
Notable weekly declines in cash prices for corn, soybeans and wheat.