CORN

• Corn futures are trading higher at midday, supported by the wheat market. March futures are up 3-00 cents to $4.48-00 while May futures are up 2-1/2 cents to $4.55-3/4.
• StoneX cut Brazil’s corn production forecast by 1.6% from the last estimate to 134.4 mmt. The group cited planting delays as the reason for the cut to production.
• Corn export inspections for the week ending November 27 came in at 1,421k mt, down from 1,695k mt last week but above the 949k mt inspected the same week last year.

SOYBEANS

• Soybeans are reversing lower at midday, seeing some strength after yesterday’s weakness. January futures are down 2-1/4 cents to $11.25-3/4 while March futures are 1-3/4 cents lower to $11.36-1/4.
• StoneX has lowered their soybean production estimate for Brazil to 177.2 mmt, down from the groups previous estimate of 178.9 mmt.
• Export inspections for soybeans totaled 920k mt, up from 809k mt the week prior but down from 2,110k mt during the same week last year.

WHEAT

• All three wheat classes are trading mostly higher at midday, supported by recent hail in Argentina yesterday. March Chicago is up 4-00 cents to $5.39-00, March KC is 3-1/4 cents higher to $5.30-00, and March Minneapolis is up 2-00 cents to $5.78-00.
• According to Argus, Russia’s wheat production is seen at 86.5 mmt for the 2026/27 season. This compares to the current production of 88.5 mmt.
• Wheat futures may continue to be choppy as rising global production estimates continue to add pressure on small rallies.

Author

Tanner Wilson