Published: Wed, November 15, 2017
Medicine | By Brett Sutton

Farmers make good corn harvest progress

Farmers make good corn harvest progress

Lower in narrow, rangebound trade amid a lack of market-moving news.

The CME Group reported 137 deliveries against CBOT November soybean futures, which expire on Tuesday. About 95 percent of winter wheat has emerged, near the 98 percent average.

More than half of winter wheat is in poor or very poor condition.

The USDA said private exporters sold 135,000 tonnes of USA soymeal to the Philippines for delivery in the 2017/18 marketing year, which began October 1.

The Iowa soybean crop is 97 percent complete about five days behind average and Nebraska farmers report they're all but finished with soybeans at 99 percent harvested.

The most active corn futures on the Chicago Board of Trade were down 0.2 percent at $3.43 a bushel by 0151 GMT, having gained 0.6 percent in the previous session.

Higher on bargain buying a day after the benchmark January contract dipped to a one-month low. Soybean production is expected to be down 1 percent to 252 million bushels, and sorghum production down 10 percent to 14.2 million bushels. The U.S. corn harvest is behind the historical averages in Wisconsin and much of the Eastern Midwest. Rallies capped by forecasts for welcome rains this week in crop areas of Brazil.

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