GRAIN HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES:

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La Nina Chases Soybean Futures Higher

Soybean futures bounced to a four-and-a-half month high as the risk of a La Nina weather pattern continued to foster buying.

In particular, traders were looking to signs of dryness in Argentina and some of southern Brazil as an indication of a La Nina pattern, which typically reduces crop yield in South America and can cause dryness in the Great Plains wheat growing region.

STORIES OF INTEREST:

Lower Soybean Exports Tip October Trade Balance -- Market Talk

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11:44 ET - Weaker soybean exports helped widen the US trade deficit in October. The Commerce Department says the deficit grew 8.6% from the prior month in seasonally adjusted terms, with higher imports and steady exports. That was in part a consequence of lukewarm soybean exports, which fell to $1.67B in October from $3.077B in September. Year-to-date exports are up from 2016. US producers are contending with increased global competition, and analysts say merchants may struggle to meet government oilseed export projections this crop season. (benjamin.parkin@wsj.com; @b_parkyn)

THE MARKETS:

Bears Pressure Cattle Futures

Cattle futures were mixed, closing mostly lower as fund selling continued to weigh on prices.

December-dated contracts for live cattle closed little changed at $1.16425 a pound at the Chicago Mercantile Exchange. Later-month futures and feeder cattle prices were lower.

(END) Dow Jones Newswires

December 05, 2017 17:31 ET (22:31 GMT)