The soft red winter wheat (ZWH26), soybean (ZSF26), meal (ZMF26), and soybean oil (ZLF26) markets at present look very heavy and susceptible to more price downside in the near term. However, corn (ZCH26) and hard red winter wheat (KEH26) late last week showed some price strength. Corn may be the most important grain market to watch in the near term. My grain-market-reporting days on the floor of the Chicago Board of Trade nearly 40 years ago remind me that veteran grain traders would tell me, “Corn is kin ...

Group 1 - Soybeans showed initial weakness but ended the day with gains of 6 to 7 ¼ cents for the front month [1] - The national average Cash Bean price increased by 6 ¾ cents to $10.60, while Soymeal futures rose by $5.10 to $5.30 [1] - Soy Oil futures experienced a decline of 51 to 53 points [1] Group 2 - Crop Production data is anticipated to be released, with a Reuters survey predicting a soybean yield drop of 0.4 bushels per acre (bpa) to 53.1 bpa and a total output decrease of 35 million bushels (mbu) to 4.266 billion bushels (bbu) [2] - Ending stocks are expected to rise to 304 mbu, compared to 300 mbu reported in September [2] Group 3 - The market is assessing export demand, with no recent Export Sales reports and China yet to confirm the 12 million metric tons (MMT) in commitments announced in late October [3] - November 25 Soybeans closed at $11.20 ½, up 7 ¼ cents, while Nearby Cash was at $10.60 1/1, up 6 ¾ cents [3] - January 26 Soybeans closed at $11.33 ¾, up 6 ½ cents, and March 26 Soybeans closed at $11.44, up 6 cents [3]