Core Insights - The corn market is experiencing losses, with futures down 2 to 4 cents across most contracts on Thursday, and preliminary open interest decreased by 6,100 contracts [1] - The average cash corn price is reported at $3.91, down 3.5 cents [1] - December corn has an average close of $4.22 in October, which is an increase of 6 cents from last year but a decrease of 48 cents from the spring price [2] Market Performance - Ukraine's corn exports in October were significantly lower at 0.8 million metric tons (MMT), compared to 1.73 MMT last year [3] - Following a meeting between President Trump and President Xi, it was indicated that China is expected to purchase large quantities of sorghum, although corn was not specifically mentioned [3] - Recent closing prices for corn futures include December at $4.30 1/4 (down 3 3/4 cents), March at $4.43 3/4 (down 3 cents), and May at $4.52 1/4 (down 2 3/4 cents) [3]

Group 1 - Soybean futures experienced a volatile trading session with losses of 3 to 5 cents, while the nearby contracts closed with gains of 10 to 14 cents [1] - November soybeans averaged a closing price of $10.32 throughout October, influenced by a recent price rally [2] - Following a meeting between Trump and Xi, China committed to purchasing 12 million metric tons (MMT) of soybeans for the current year and 25 MMT annually for the next three years [3] Group 2 - Tariffs on US agricultural goods are anticipated to be lifted, enhancing the competitiveness of US products in the market [3] - The preliminary open interest for soybeans decreased by 15,262 contracts, indicating ongoing liquidation ahead of the first notice day [1] - The national average cash bean price increased by 13.75 cents to $10.26.25 [1]