Strong Corn and Soybean Export Sales Support Demand as Harvest Weather Raises New Risks
U.S. corn and soybean sales surged, with China accounting for most of the week’s soybean purchases, giving grain markets a demand boost despite cautious trading ahead of the weekend. On SF Daily, host Lorrie Boyer breaks down export numbers, cattle market pressure, and harvest weather threats across the Midwest and Plains.
🌽 Corn & Soybeans: Soybean sales reached 2.84 million metric tons, including 2.18 million to China, while corn sales jumped 87% above the average, strengthening U.S. export prospects.
🌾 Wheat: Export sales fell to 239,600 metric tons, running well below the weekly average as wheat demand lagged corn and soybeans.
🐄 Livestock: Cattle futures and boxed beef prices weakened as traders positioned ahead of USDA’s monthly cattle on feed report.
🌦️ Weather: Heavy rain could bring localized flooding to the southern Plains, while dry, gusty conditions near the northern Corn Belt raise harvest fire risks.
📈 Market Watch: Fund positioning, farmer selling, and Monday’s USDA crop progress report could shape the next moves in grain markets.
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