The most active corn contract for December delivery rose 2.25 cents, or 0.34 percent, to settle at 6.675 U.S. dollars per bushel. December wheat fell 10.75 cents, or 1.31 percent, to settle at 8.0675 dollars per bushel. January soybean shed 12.25 cents, or 0.86 percent, to settle at 14.17 dollars per bushel.
CBOT grain markets are subject to collapsing crude oil, a sharply higher dollar and associated weakness in South American currencies. Meanwhile, sizable Black Sea grain exports will continue.
Building drought will be highly difficult across the heart of Brazil's soybean belt during the winter months. Chicago-based research company AgResource holds recoveries should be used to advance sales.
U.S. corn export sales in the week ending Nov. 10 were 46 million bushels, as against 10 million bushels in the previous week and the largest since March; soybean export sales were 111 million bushels, as against 29 million bushels in the previous week; and wheat export sales were 11 million bushels, as against 12 million bushels in the previous week.
This crop year to date, cumulative soybean sales totaled 1,322 million bushels, up 4 percent year on year.
Scattered showers will impact portions of Argentina's southern and western crop areas on Sunday-Monday, but net soil moisture loss will be ongoing across a vast majority of Argentina into early December. Rainfall across tropical latitudes of Brazil increases in intensity beyond the weekend, covering key producing states of Mato Grosso and Goias.
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