Corn and wheat futures closed modestly higher on Tuesday, while soybeans finished mixed.
Corn was supported by continued strong export demand for US supplies. Another update to the export sales report from this morning showed bookings of US corn for the week ended Dec. 11 at 1.74 million tonnes, on the high side of pre-report trade expectations. Total export sale commitments, which are now nearly caught up from the government shutdown, are 31% above the same week last year at 47.58
million tonnes. March and new-crop December each added a ½ cent to $4.47 ½, and $4.65.
Wheat remained underpinned by Russian attacks on Ukraine grain export logistics, with pre-holiday positioning also offering support. The export sales report showed US wheat bookings for the week ended Dec. 11 at 432,609 tonnes, in the middle of trade estimates. March Chicago was up 1 ½ cents at $5.17, and March Kansas City climbed 6 ¾ cents to $5.28. March Hard Red Spring was 1 cent higher at $5.66 ½, and March Minneapolis closed a ¼ cent higher at $5.80 ¼.
Soybean export sales for the week ended Dec. 11 came in at just under 2.4 million tonnes, the highest in over year but still just in the middle of trade ideas. March beans dipped 1 ¼ cents to $10.63 ¾, and new-crop November was ¾ of a cent higher at $10.73.
