By Anthony Harrup


--Soybeans for March delivery settled up 1.6% on the Chicago Board of Trade at $10.62 a bushel, up from an oversold condition and supported in part by a 5% year-on-year rise in the November soybean crush.

--Corn for March delivery rose 1.6% to $4.44 1/2 a bushel

--Wheat for March delivery rose 1.2% to $5.12 1/2 a bushel


HIGHLIGHTS


Incipient Recovery: Soybeans are looking to correct from oversold and saw some "nice follow-through buying" after bouncing off lows on Friday, Doug Bergman of RCM Alternatives said in a note. "The global supply outlook remains favorable with South America on track for a big crop, but beans have seen a large move to the downside with the market showing some signs that fund liquidation may have run its course," he added. The USDA on Friday reported soybeans crushed for oil in November at 6.62 million tons, down from 7.09 million tons in October, but above the 6.3 million tons in the year-earlier month.

Mixed Bag: U.S. grain inspections for export were mixed for the week ending Jan. 1. Corn inspections slipped to 1.21 million metric tons from 1.34 million tons the previous week, and up from the 877,214 tons in the year-earlier week, the Agriculture Department reported. Soybean inspections were 980,518 tons, compared with 773,600 tons the previous week and 1.3 million tons a year earlier, while wheat inspections fell to 183,305 tons from 318,650 tons from the prior week and 412,542 tons in the year-earlier week.


INSIGHT


Caught Up: The USDA released exports sales numbers for the week ended Dec. 25 and is virtually caught up with data that was delayed by last year's partial government shutdown. Wheat export sales for the Dec. 25 week were 95,400 metric tons, corn export sales were 756,400 tons and soybean export sales were 1.18 million tons. The numbers were disappointing overall "although that's not unheard of this time of year," Arlan Suderman of StoneX said in a note. The USDA should be up-to-date with Thursday's export sales report for Jan. 1, he said.

Resilient Demand: Corn gained with export demand seen holding up and expectations that the USDA will lower its U.S. crop yield estimate in the WASDE report due next week. "U.S. corn demand is expected to remain strong, particularly as logistical challenges continue to constrain corn movement out of Ukraine," Keegan Madigan of Total Farm Marketing says in a note. Early estimates for WASDE show expectations of a 2-4 bushel-per-acre reduction in the 2025 U.S. corn yield, Madigan added.


AHEAD


--Cal-Maine Foods Inc. will release its second quarter earnings report at 6 a.m. ET Wednesday.

--The EIA will release its Weekly Petroleum Status Update report at 10:30 a.m. ET Wednesday.

--The USDA will release its weekly export sales report at 8:30 a.m. ET Thursday.

--The USDA will release its weekly Commitment of Traders report at 3:30 p.m. ET Friday.--Calendar items here.


Write to Anthony Harrup at anthony.harrup@wsj.com


(END) Dow Jones Newswires

01-05-26 1617ET