News

US soybeans are up by 9¢ on Tuesday, November 28, 2023

Wheat
United States
Sustainability & Environmental Impact
Soybean
Market & Price Trends
Published Nov 29, 2023

Tridge summary

Today, corn, CBOT wheat, and KC wheat prices are down, while January soybeans and Minneapolis wheat prices are up. There is expected to be moisture stress in 40% of Brazil's soybean belt, but forecasters predict showers will return to the northern belt in the next six to 15 days, potentially reducing yield risks. USDA announced a purchase of 123,300 metric tons of soybeans by unknown destinations for delivery in the 2023/2024 marketing year. Live cattle, lean hogs, and feeder cattle prices are all up, while crude oil prices are up and S&P 500 futures are down.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

This morning March corn is down 2¾¢. January soybeans are up 9¢. CBOT wheat is down 2¾¢. KC wheat is down less than a penny. Minneapolis wheat is up 4½¢. “Moisture stress will quickly rebuild this week over an estimated 40% of Brazil’s soybean belt — primarily in the Center-West and northeast regions of the belt,” says Arlan Suderman, chief commodities economist for StoneX. “But forecasters currently see strong support for showers to return to the northern soybean belt in the six- to 15-day period, with a better bias for showers in December than what they saw in November. That doesn’t necessarily mean that Center-West Brazil will see ‘normal’ rainfall, as normal rainfall in December would be 9 inches. But there are indications that the region could see ‘sufficient’ rainfall to reduce yield risks.” This morning USDA announced unknown destinations are buying 123,300 metric ...
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