GRAIN HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES:

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Funds Trim Short Position in Corn Market -- Market Talk

16:31 ET - Hedge funds eased off wagers that corn prices would fall last week. The CFTC said that money managers trimmed their net short in the corn market to 210,446 futures and options as of Nov. 21, down 9% from the prior week's record. Corn futures continue under pressure from large supplies, but found some strength last week on ideas that prices had recently fallen too low. Funds cut their net long in the soybean market by 11% to 20,144 futures and options, while leaving their net short in wheat little changed at 108,666 futures and options. (benjamin.parkin@wsj.com; @b_parkyn)

Winter Wheat Crop Quality Falls -- Market Talk

16:49 ET - The quality of the recently planted US winter wheat crop fell last week. The USDA said that 50% of the crop was in good-or-excellent condition as of Nov. 26, down from 52% a week earlier and 58% last year. That's the lowest combined good-and-excellent rating since 2011, says Terry Reilly of Futures International. Meanwhile, corn farmers have collected 95% of the corn crop--up from 90% a week earlier--and analysts say the soybean harvest is complete. (benjamin.parkin@wsj.com; @b_parkyn)

German Political Limbo Settles EU Dispute Over Monsanto Weedkiller -- Update

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BRUSSELS -- A yearslong dispute among European Union nations, American corporations and environmental groups over a controversial weedkiller was settled Monday in a surprise move by Germany.

Representatives from a majority of the EU's 28 nations approved a five-year license renewal of glyphosate, the world's most widely used herbicide, invented and marketed by Monsanto Co. under the Roundup brand.

STORIES OF INTEREST:

Wheat Futures Sink to New Low on Lower-Than-Expected Exports

Wheat futures approached a three-month low Monday, pressured by lackluster exports.

December-dated futures for soft-red winter wheat at the Chicago Board of Trade fell 1.5% to $4.09 1/2 a bushel, the lowest close since Aug. 30 and a new low for the contract.

Exports, Crude Oil Prices Pressure Grain Markets -- Market Talk

11:38 ET - Grain futures fall as underwhelming exports hang over markets. The most recent week of export sales reported by the USDA fell short of expectations, with wheat and soybean sales both below the range of estimates and corn at the lower end. Falling crude oil prices, pressuring the broader commodity sector, are further dragging down markets as well. CBOT December corn futures fall 0.7% to $3.40 a bushel, while December wheat slides 1.3% to $4.10 1/4. January soybean futures climb 0.2% to $9.95 a bushel. (benjamin.parkin@wsj.com; @b_parkyn)

THE MARKETS:

Hog Futures Rise to Three-Week High; Cattle Follow

Hog futures started the week higher, buoyed by an upward turn in the cash market for physical pigs.

Lean hog contracts for December rose 2% to 64.525 cents a pound at the Chicago Mercantile Exchange, closing at the highest point since Nov. 6.

(END) Dow Jones Newswires

November 27, 2017 17:19 ET (22:19 GMT)