Friday December 6, 2024

• Corn trading slightly up while beans and wheat is trading slightly in the red.
• Flash sale of 136,000mt of soybeans sold to China for 2024/2025 delivery.
• This past week there was an increase in corn and wheat export sales, while soybean sales declined.
  • Corn sales were up 33% compared to the same time last year. Sales came in above estimates at 68.2mbu, 11% ahead of the needed pace, Mexico and Japan were the largest buyers this past week.
  • Soybeans and wheat sales were within expectations, both totaling 3% ahead of the pace needed. 
• Statistics Canada crop production report raised the average national corn yield to 168.7bu/acre, up from the federal agency’s September forecast of 167.8bu and above last years 161.8bu average. National soybean yield climbed to 49.1 bu/acre up from 46.4bu/acre.
  • 24/25 all wheat production was pegged at 34.958mmt, slightly below the average of the 35.04mmt estimate, but up from last year. 
  • Corn production reported at 15.345mmt, below the 15.37mmt expectation.