Soybean futures were firm, bolstered by optimism surrounding China trade talks and the USDA's plan to distribute farm aid. The market is holding at recent support levels, though trade is currently moving sideways. The November contract saw a 10-cent range, with prices peaking at $10.38. Corn futures were higher, supported by uncertainty regarding the harvest pace and final crop size, as some private estimates indicate potentially lower yields. December Corn futures gained $0.035, reaching a high of $4.2325, trading near the highs of the current month-long candle. Option open interest for December Corn futures is now slightly leaning long, adding 6,000 contracts to the call side versus selling 1,700 on the put side. Wheat futures were also up, with December futures rising $0.0525 to a high of $5.055. However, strong global supplies continue to temper the market, keeping prices near five-year lows and trade sideways, confined within yesterday's range.
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