Overview
- - USDA reported 2.07 MMT of corn sold for the week ended Feb. 5, lifting total commitments to 60.805 MMT, or 73% of the agency’s full‑year export projection and 31% above last year.
- - The February WASDE cut U.S. corn ending stocks by 100 million bushels to 2.117 billion and raised the export forecast by the same amount.
- - Brazil’s CONAB lowered its corn crop estimate to 138.45 MMT after a 1.2 MMT cut to the second crop and raised its soybean outlook to 177.98 MMT.
- - Futures closed Friday mixed across grains: corn posted fractional gains for the day and week, soybeans eased 2 to 4 1/2 cents, and wheat fell after Thursday’s rally even as some contracts finished the week higher.
- - Soybean sales fell to a marketing‑year low of 281,798 MT for the week, with season commitments at 34.572 MMT, equal to 81% of USDA’s target and 20% below last year’s pace.