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The USDA’s latest report shows that the US corn and soybean harvests have exceeded market expectations
Speculators in the US corn market cut short positions, helping send the net short to the highest level since August 2023, while adding shorts in soybean and wheat contracts in the week to Tuesday October 29, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday November 1.
Canada’s grain and oilseed exports fell 38%, with significant declines in wheat and canola, despite strong soybean exports, according to the Canadian Grain Commission
The USDA’s latest crop progress report indicates strong advancement in the harvest of major crops, with corn and soybeans making significant strides.
The managing director of CANAMI highlighted Mexico’s growing dependence on corn imports due to reduced self-sufficiency, exacerbated by drought impacts on production.
India’s corn consumption could spike in 2025 amid expectations that the government may hike its ethanol mandate and force increased use of the grain, trade sources told Fastmarkets in the week to Friday October 11
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