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Futures and options trading involves risk of loss and is not suitable for everyone.

🚢 Export Inspections: Soybean inspections stayed strong at 2.4mmt (90 mil bu), with year-to-date totals running 56% ahead of last year and China taking about 63% of the week’s volume. 📉 Corn rose 39% week-over-week to 884,766mt, while wheat posted an all-time record weekly low of just 75,413mt, down 61% from the prior week.

💰 Flash Sales: Mexico bought 1.7mmt (68 mil bu) of US corn, split between 2026/27 and 2027/28 delivery. 🇨🇳 Exporters also sold 136,000mt (5 mil bu) of soybeans to China for 2026/27 delivery.

🛢️ China’s Soybean Oil Glut: China’s soybean oil stocks climbed to a record near 1.5 million tons as crushing outpaces sluggish demand, pushing exports to more than triple from a year ago. 🤝 China’s lead trade negotiator also met with a US ag delegation Monday, as Chinese purchases of non-soybean US farm goods head toward a seven-year low.

📊 Futures Recap: Jan soybeans dropped roughly 18¢ to $12.17/bu, their lowest close since mid-August, on falling crude, fund liquidation and strong yields. 🌽 Dec corn edged up a penny to $4.48/bu despite harvest pressure, and wheat closed slightly higher as Russia-Ukraine attacks dimmed hopes for a Black Sea shipping deal.

🚜 Harvest Progress: Corn harvest jumped to 74% complete, just behind the 77% average, with delays persisting in South Dakota, Nebraska and Iowa. 🌱 Soybeans reached 88% done (ahead of the 84% average), while winter wheat planting hit 83%, short of the 86% traders expected.

🇧🇷 Brazil Planting: AgRural says Brazil’s soybean crop is 53% planted, ahead of last year’s 47% despite wet conditions in the south and dryness in the north. 🌽 Brazil’s first corn crop is 63% planted, also ahead of last year’s 59% pace.