Summary: The USDA confirmed what many in the Grain Belt believed - there was less crop in the fields and in the bins. The bulls mostly loved the news. For the week, December wheat dropped 9 cents while the nearby corn contract improved 4 cents. Rationing entered the soybean market lexicon as higher export numbers lightened the stocks-to-use ratio. The January soybean contract jumped 47 cents. December soybean meal increased $5.70 per ton. December cotton contracted 16 cents per hundredweight. In the dairy parlor, December Class III milk futures declined 97 cents.
