Markets

“Corn prices climbed steadily throughout Monday’s session on a wave of technical buying that led to gains of approximately 2.75%. December futures rose 12.75 cents to $4.7675, with March futures up 13.5 cents to $4.9250.

Corn basis bids were steady to mixed after moving as much as 5 cents higher at an Illinois ethanol plant and as much as 10 cents lower at an Ohio elevator on Monday.

Private exporters announced to USDA the sale of 5.7 million bushels of corn for delivery to Mexico during the 2023/24 marketing year, which began September 1.”

“Soybean prices raced higher on solid U.S. demand and unfavorable forecasts in South America, closing with double-digit gains. November futures climbed 35.5 cents to $13.69, with January futures rising 38 cents to $13.8550.

The rest of the soy complex also tracked higher on Monday. December soymeal futures jumped more than 4.5% higher, while December soyoil futures moved almost 1% higher.

Soybean basis bids were mostly steady across the central U.S. on Monday but did trend as much as 5 cents higher at an Indiana processor and as much as 5 cents lower at an Ohio river terminal today.

Private exporters announced to USDA the sale of 7.5 million bushels of soybeans for delivery to China during the 2023/24 marketing year, which began September 1”