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Futures and options trading involves risk of loss and is not suitable for everyone.

🚢 Export Sales Surge—Soybean sales hit 2.8mmt for the week ending Oct 15, well above the prior week and four-week average, with China the top buyer. Corn sales also beat expectations at 1.5mmt (Mexico leading), while wheat disappointed again at just 239,600mt. 📈

🇨🇳 China Flash Sales Continue—USDA reported another flash sale Thursday of 202,000mt of soybeans to China for 2026/27 delivery. Since October 14, China has bought roughly 2.4mmt (89mil bushels) of US soybeans via flash sales. 🫘

📊 Grain Futures Update—Dec26 corn slipped ~2¢ to $4.61, and Dec26 SRW wheat fell ~2¢ to $6.25 on harvest pressure and Black Sea peace talk hopes, as a ceasefire could unleash a flood of cheap wheat exports. Nov26 soybeans bucked the trend, climbing ~8¢ to $12.53 on the strong export sales print. 🌾

💧 Drought Monitor—Scattered Corn Belt rains brought no notable relief, with conditions worsening in Kentucky, Indiana, and central Illinois as 30% of the region sits in drought. Meanwhile, rainfall in the Southern Plains improved conditions in Kansas and Oklahoma, giving the HRW wheat crop a welcome boost. 🌧️

🇧🇷 South American Weather—Southern Brazil is forecast to get 1–5 inches above-normal rainfall over the next 15 days, with flooding risks in Paraná that could slow corn and soybean planting. Argentina stays dry through mid-November, though the wheat impact is expected to be minimal. 🌎

🛢️ Oil Prices Spike—Brent jumped 4% to $113.17 (highest close since early May), and WTI rose 2.4% to $99.47 after a Houthi drone targeted Saudi Aramco’s Shaybah field and a tanker was struck near Oman. The US is reportedly moving a third carrier strike group toward the region, though Middle East crude exports have largely recovered above prewar levels. ⚠️