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Writer's pictureWright team
20 hours ago5 min read

Tidbits, Q&A: ENSO Impact, Corn Sales, Russian Crops 10/17/24

Highlights


Yesterday morning, USDA announced the sale of:

  • 1,043,940 mts of old crop corn to Mexico

  • 579,120 mts of new crop corn to Mexico

  • 332,000 mts of old crop corn to unknown

  • 175,000 mts of old crop soybeans to unknown

 

November soybean futures gained 5½¢ on the January beans the past 8 trading sessions. Benson Quinn Commodities, which is owned by ADM, say crushers only have enough beans to keep operating for two weeks. Farmers are not selling beans with the 90¢ drop in futures since 30 September. So, the market is reducing the return to storage of the market to get farmers to sell.

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