Continued strong export demand lifted corn futures to gains on Thursday, with soybeans higher as well. Wheat closed mainly stronger.
The USDA this morning reported a private export sale of 186,000 tonnes of American corn to unknown destinations. Meanwhile, delayed weekly export sales data also released today showed bookings of US corn for the week ended Nov. 13 at a four-week high of 2.38 million tonnes, above the range of pre-report trade estimates. A weaker US dollar added to the upside. March corn gained 2 ¼ cents to $4.46 ½, and December was up 1 ¼ cents at $4.65.
Weekly export sales for wheat also topped market expectations, coming in at 850, 418 tonnes for the week ended Nov. 13. That was a six-week high and almost 55% above the same week last year. The weaker greenback was supportive for wheat as well, although heavy global supplies continued to overhang. March Chicago wheat added 4 cents to $5.33 ½, and March Kansas City dipped a penny to $5.22 ¼. March Hard Red Spring was 1 ¼ cents higher at $5.62, and March Minneapolis was up 1 cent at $5.76 ¼.
Soybeans were boosted as the USDA reported private export sales of 264,000 tonnes of soybeans to China and 226,000 tonnes to unknown destinations in another flash sale announcement. Export sales data for the week ending Nov. 13 showed bean bookings totaling 695,598 tonnes, which was on the lower side of trade estimates. January beans climbed 2 ¼ cents to $10.93 ½, and November 2026 was 2 ¾ cents higher at $10.98 ¼.
