On Friday, an abbreviated market session led to a little bit of late selling in Chicago and KC wheat. Otherwise, it was quiet and choppy in low volume action as corn was up a bit and soybeans down a few cents. Pakistan has canceled their tender for 500,000 mt of optional milling wheat. Rumors have China buying as much as 300,000 mt of Brazilian corn.
March corn closed up 5 cents and July corn was up 4 1/2 cents. January soybeans closed up 1/4 cent and July soybeans were up 2 cents. March KC wheat closed down 7 3/4 cents, March Chicago wheat was down 16 1/2 cents and March Minneapolis wheat was down 2 3/4 cents.
Livestock drifted lower on the day with little in the way of fresh news to drive the markets. Solid beef net sales and strong pork net sales on the Weekly Export Sales report were not enough to move markets higher on the day Friday.
Beef net sales of 12,900 mt for 2022 were primarily for South Korea (4,600 mt), China (4,100 mt) and Japan (1,700 mt). Pork net sales of 45,800 mt for 2022 were primarily for Mexico (18,200 mt), Japan (10,200 mt) and Canada (4,100 mt).
