Soybeans:

• CBOT Soybeans (ZS1!) inched up 0.04% to $11.38¼ per bushel.
• China continues buying U.S. soybeans following the late-October trade truce. Over 2 million tons purchased since October 30. Uncertainty remains if China will meet the 12-million-ton target by year-end.

Wheat:

• CBOT Wheat (ZW1!) firmed 0.37% to $5.40½ per bushel despite ample global supplies.
• Australia is likely to raise production estimates for wheat, barley, and canola after favorable pre-harvest rains.
• Argentina’s 2025/26 wheat harvest is forecast at a record 25.5 million tons, up from 24 million tons, driven by higher yields.

Corn:

• CBOT Corn (ZC1!) remained flat at $4.47¾ per bushel.
• Last week’s U.S. export sales: 2.8 million tons for 2025-26 and 571,500 tons for 2026-27, exceeding analyst expectations.

Market Drivers:

• U.S.-China trade truce fueling exports.
• Favorable weather supporting production in Australia and Argentina.
• Ongoing demand signals from global buyers amid ample supply.

Upcoming Data (GMT):

• 0145 – China Manufacturing PMI, Nov
• 0850 – France HCOB Manufacturing PMI, Nov
• 0855 – Germany HCOB Manufacturing PMI, Nov
• 0900 – EU HCOB Manufacturing PMI, Nov
• 0930 – UK S&P Global Manufacturing PMI, Nov
• 1445 – U.S. S&P Global Manufacturing PMI Final, ISM Manufacturing PMI, Nov