By Paulo Trevisani


--Corn for December delivery fell 0.9%, to $6.83 1/2 a bushel on the Chicago Board of Trade Monday as traders fretted about weakening demand amid a global economic slowdown.

--Wheat for December delivery rose 0.2% to $8.61 a bushel.

--Soybeans for November delivery rose 0.1%, to $13.85 1/4 a bushel.


HIGHLIGHTS


Corn Headwinds: Corn futures gave back last week's gains amid concerns that an economic slowdown around the world may dent consumption. "The demand side will need to be watched as [corn] demand needs to hold to keep lower ending stocks estimates in play," Price Futures' Jack Scoville said in a report. "There are increasing concerns about demand with the Chinese economic problems caused by the lockdowns creating the possibility of less demand as South America has much better crops this year to compete with the U.S. for sales," he said. "Export demand in general has been slow so far this year."

Geopolitics of Wheat: Wheat lost steam at the end of the trading session after rising as much as 2%, but still managed to close in green. "The market is oversold after recent losses," RCM's Doug Bergman wrote in a morning report. Unfavorable weather in Australia also supported prices. Eventually, a Reuters report citing a U.N. spokesman as saying talks in Russia were "positive and constructive" regarding extending the grain corridor deal were given as a reason for prices pulling back.


INSIGHT


Brazilian Soy: Brazilian farmers picked up the pace of their soybean-planting efforts last week, agricultural consultancy AgRural said in a research note. The area planted with the oilseeds rose to 24% as of Thursday, up from 10% a week earlier and compared with 22% on the same date a year earlier. Brazil is the world's biggest producer and exporter of soybeans. Farmers in Brazil's center-west states sped up their efforts to get ahead of expected rains in some areas, AgRural said. Excessive rain in some regions in the states of Parana and Mato Grosso do Sul slowed planting and certain areas might need to be replanted, according to the consultancy.

U.S. Soy Exports: Weekly export inspections of U.S. soybeans nearly doubled to 1.88M metric tons from 976,877, the USDA reported. The figure was lower than a year ago, when it reached nearly 2.5M tons. Nearly 1.35M tons of U.S. soybeans were destined for China in the week ended Thursday, according to the report. Corn saw a small weekly decline in inspections to 448K from 457K, while wheat had a sharper fall, to 232K from 616K.


AHEAD


--The EIA will release its weekly ethanol production and stocks 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 monthly Livestock Slaughter report at 3 p.m. ET Thursday.

--Railroad freight provider CSX Corp. will release its third-quarter earnings report after the stock market closes on Thursday.

--The USDA will release its monthly Cattle on Feed report at 3 p.m. ET Friday.

--The CFTC will release its weekly commitment of traders report at 3:30 p.m. ET Friday.


Jeffrey T. Lewis contributed in this article.


Write to Paulo Trevisani at paulo.trevisani@wsj.com


(END) Dow Jones Newswires

10-17-22 1538ET