Corn and soybean futures were both higher in pre-US holiday trading on Wednesday, while wheat ended mixed.
US markets will be closed Thursday for American Thanksgiving, with a shortened Chicago Board of Trade session on Friday.
Soybeans were underpinned by news after the close on Tuesday that China had purchased at least another 10 cargoes of American soybeans. Still, the market remains uncertain whether China will fulfill its expected 12 million tonnes in purchases by the end of this year. Positioning ahead of the holiday added to the gains in soybeans. January beans gained 6 ¾ cents to $11.31 ½, and new-crop November added 3 cents to $11.22 ¼.
Corn got a lift from the gains in soybeans, with reports today also suggesting some hopes for Chinese buying of American corn. As with soybeans, pre-holiday positioning added to the strength in corn. March climbed 7 cents to $4.45 ¼, and December 2026 was 3 ½ cents higher at $4.65 ¼.
Slow exports from Ukraine due to a wet harvest, and Russian strikes on Ukrainian railway infrastructure helped to underpin wheat. On the other hand, heavy global supplies continue to overhang the market. March Chicago was up 1 ¼ cents to $5.40 ½, and March Kansas City gained 1 ¾ cents to $5.30. March Hard Red Spring jumped 13 ¼ cents to $5.70 ½, but March Minneapolis slipped 2 ¼ cents to $5.78 ½.
