Grains start day mixed. Thursday, December 1, 2022
Corn is up less than a penny.
Soybeans are down 6¢.
CBOT wheat is down 5¢. KC wheat is down 7¢. Minneapolis wheat is down 7¢.
Al Kluis with Kluis Commodity Advisor says the new exchange rate for Argentinian soybean exports is working, as sales on Tuesday were nearly double the sales the entire month up to that point. Last week the Argentina government announced farmers can get 230 pesos for every dollar brought into the country from soybean sales, nearly 40% above the official exchange rate, Reuters reports.
Live cattle are down 15¢. Lean hogs are down 40¢. Feeder cattle are up 28¢.
USDA released the weekly export sales report this morning. Both corn and soybean exports fell within the expected range according to Kluis. Net corn sales were 602,700 metric tons. Net soybean sales were 693,800 metric tons.
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