The most active corn contract for December delivery fell 2.5 cents, or 0.52 percent, to settle at 4.7825 U.S. dollars per bushel. December wheat plunged 9.5 cents, or 1.65 percent, to settle at 5.66 dollars per bushel. January soybean lost 12.25 cents, or 0.93 percent, to settle at 13.0725 dollars per bushel.
CBOT has had difficulty sustaining a break or a rally since late summer. The choppy CBOT price trend is expected to persist.
U.S. soybean harvest is expected to reach 85 to 87 percent, and corn 72 to 75 percent. U.S. harvest is in its final stages this week. Chicago-based research company AgResource stays bullish of U.S. soybean products with the grains to chop in a broad sideways range.
The U.S. Department of Agriculture reported Monday that for the week ending Oct. 26, the United States exported 20.9 million bushels of corn, 69.5 million bushels of soybeans and 7 million bushels of wheat. The wheat and corn exports were below trade expectations while soybeans were in line.
For respective crop years to date, the United States has exported 194.7 million bushels of corn, up 17 percent year on year; 365.6 million bushels of soybeans, down 3 percent; and 261.4 million bushels of wheat, down 26 percent.
Rainfalls across Southern Brazil keep adding up and are historically unprecedented. It is the southern one-third of Brazil where months of heavy rain is taking a real toll on Brazilian summer row crop yield and production.
Latest comments