The grain futures market begins this holiday-shortened session with a mixed trend. Grain futures will conclude trading today at 12:05 pm Central Time. Corn shows an increase of 2 to 3¢, while soybeans are down 3 to 5¢. The wheat complex remains steady to up by 3¢. This morning, due to the Thanksgiving holiday yesterday, the USDA Weekly Export Sales report was released. Wheat reported net sales of 366,800 metric tons. Corn had 1,062,900 metric tons reported as net sales for 2024/25 and 67,200 metric tons for 2025/26. Soybean sales were reported at 2,490,500 metric tons for 2024/25 and 18,000 metric tons for 2025/26. It is noteworthy that this report did indicate China buying 13,000 metric tons of U.S. soybean oil, which is a significant development as China has not made such a purchase since the 2020/21 marketing year.

Potential of a Massive South American Crop

Grain traders are now starting to assess the potential of a massive South American crop this year. The early growing season was dry, but it has shifted to nearly ideal conditions. As a result, local analysts are continuously increasing their production estimates every week. This indicates a positive outlook for the world balance sheet in terms of soybeans.The changing weather patterns have the potential to significantly impact the global grain market. Traders are closely monitoring these developments as they could lead to fluctuations in prices and trading volumes.

Livestock Futures: Early Trade Mixed

In early trade, livestock futures are showing a mixed picture. Feeder Cattle are down by 50¢, while Live Cattle are up 10¢ and Lean Hogs are up 47¢. This week, cash cattle was reported to be $2 to $5 higher on Wednesday. There is a question among traders about whether the packers completed all their buying early this week or if we will see further cash trade today. The USDA Weekly Export Sales report was disappointing for both beef and pork. Beef sales were reported at 4,800 metric tons, and pork was pegged at 17,200 metric tons. Traders are hopeful that the U.S. dollar has reached its peak and will start trending lower. Currently, the U.S. dollar near 108 is not favorable for the beef or pork export market.

Outside Markets and Their Impact

In the outside markets, the U.S. dollar index is down by 0.16. Crude oil has increased by 69¢, S&P 500 futures are up by 25 points, and the Dow Jones is up by 127 points. Traders are closely watching the 105.87 mark in the U.S. dollar today as it represents the 20-day moving average. Since the current rally began on September 30, we have only closed below this line once. These movements in the outside markets can have a significant impact on the grain and livestock futures markets.For a free trial of The Kluis Report, including three times a day market updates and the Saturday newsletter, visit kluiscommodities.com, call 888-345-2855, or email info@kluiscommodityadvisors.com.