Soybean and corn futures carried over the bearish posture from the October WASDE, which projected higher yields, production and ending stocks levels for both. Wheat, which rallied Tuesday after a mostly neutral to bullish report, joined in the sell-off Wednesday. November soybeans fell to the lowest level since the end of March, before bouncing late. There is no doubt funds were liquidating longs, especially in corn.
December corn closed down 10 1/4 cents per bushel and March corn was down 10 cents. November soybeans closed down 3 cents and January soybeans were down 4 cents. December KC wheat closed down 18 cents, December Chicago wheat was down 15 1/4 cents and December Minneapolis wheat was down 3 3/4 cents.
The December U.S. Dollar Index is trading down 0.389 at 94.130. The Dow Jones Industrial Average is down 2.38 points at 34,375.96. December gold is up $32.70 at $1,792.00, December silver is up $0.59 at $23.11 and December copper is up $0.1780 at $4.5035. November crude oil is down $0.16 at $80.48, November heating oil is up $0.0107, November RBOB is up $0.0231 and November natural gas is up $0.085.