Chicago front-months' corn contracts hit new lows on Wednesday after the U.S. government closed two key rail crossings into Mexico, the top importer of U.S. corn, in response to rising migrant crossings.
Exports being lost because of US-Mexico rail crossing closures, industry says
U.S. wheat prices essentially bottomed out during late November; recovered somewhat in December
Wheat futures rose on a technical bounce
Good export demand also underpinned soybeans
Fertilizer companies are already dealing with lower profits as prices sag
Traders waited to see whether beneficial rains will arrive in dry areas of Brazil
Aviation is seen as one of the few routes to increase ethanol demand amid rising electric vehicle sales
China may buy a couple more cargoes of U.S. soy for next-year delivery: analysts
Mild Prairie weather contributing to lower feed demand
Corn and wheat futures also traded lower