Soybeans weaker Friday, corn, wheat gain
November 29, 2019 By Tom Steever Filed Under: Crops Markets, Market News
Soybeans were lower Friday because of the Brazilian Rèal being lower in
relation to the U.S. Dollar, giving a price advantage to Brazil’s soybean
exports. The market fell despite weekly export sales being good at 1.66 million
metric tons of soybeans. President Trump signed bills supporting Hong Kong
human rights, which could add friction to trade talks.
Corn was higher because of slow harvest and another storm further slowing the harvest.
Weekly corn export sales improved this past week. Colombia was among the top
destinations for U.S. corn exports. Corn gained additional support from higher
Wheat was higher led by Chicago. Wheat export sales showed improvement. Among
sales reported Friday were 22.5 million bushels, most of which went to The
Philippines and Taiwan. The wheat market was also supported by wet weather
slowing winter wheat planting in the U.K. and France.
Your email address will not be published.
Subscribe for our newsletter today and receive relevant news straight to your inbox!