December corn is down 6¢ this morning.
January soybeans are down 12¢.
December CBOT wheat is down 8¾¢. March KC wheat is down 6¾¢. March Minneapolis wheat is down 3¢.
“Corn, soybeans, and wheat are all trading lower again this morning, but losses are minimal compared to previous sessions,” said Karl Setzer, partner at Consus Ag Consulting. “A simple lack of fresh bullish news is the primary reason for the market pressure, as is building concerns over future U.S. trade relations. This comes even as the U.S. continues to make daily flash sales. The concern is on future demand though, and this is negating the support from spot market selling.”
Earlier this week, a Farmdoc story discussed concerns in the agricultural industry that a new trade war with China may be in store after President-elect Donald Trump takes office.
This morning USDA announced unknown destinations are buying 176,000 metric tons of soybeans for the 2024/2025 marketing year.
“Improved weather conditions in South America have been negative …