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December corn futures rose 7.75 cents to $5.77 1/4 and January soybeans climbed 22.75 cents to $12.44 1/4, with SRW wheat futures extending a rally to nine-year highs on a tighter global supply outlook. December soymeal surged to $362.10, its highest close since mid-August.
Corn export sales for the week ended Nov. 4 fell 13% from the prior week.
Wheat's rally to multi-year highs raises feed-grain replacement costs and supports corn and soy complex prices. Softer weekly corn export sales cap upside unless shipments pick up, while firm soymeal supports feed protein costs.
profarmer.comPro Farmer EditorsNov 12, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
