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Traders await Thursday’s U.S. Department of Agriculture crop report

Traders await Thursday’s U.S. Department of Agriculture crop report

  • - Taiwan bought 5.12 million bu. of 2016 corn and unknown destinations bought 9.5 million bu. The deal to unknown destinations included 3.6 million of 2016 corn and 5.9 million of 2017.

    - Japan seeks to buy 162,777 metric tons of wheat from the United States and Canada. From the U.S., it seeks 45,925 mt of western white, 14,140 mt of hard red winter and 46,711 mt of dark northern spring. The U.S. wheat is for loading Feb. 21-March 20. Results are expected on Thursday.

    - Morocco seeks to buy 363,636 mt of U.S soft wheat and a similar amount of European Union soft wheat. It also seeks to buy 327,273 mt of U.S. durum. The deadline for the U.S. wheat is Jan. 17, with the soft wheat for arrival by April 30 and the durum by Dec. 31.

    - Ethiopia seeks to buy 720,000 mt of optional-origin milling wheat, with offers due by Feb. 3. Shipment will be within three months of when letters of credit are opened, which could be March to May.

  • Brazil’s soybean harvest is under way and dry weather is needed. Light to moderate showers are forecast there this week and next week.

  • U.S. stocks were pressured in a volatile session Wednesday as investors digested President-elect Donald Trump’s first news conference in months.

    Major indexes oscillated between gains and losses while biotech stocks slumped after Trump said companies were “getting away with murder” with respect to drug prices. Energy shares were among the day’s biggest gainers, rising alongside a jump in the price of crude oil.