Grain futures saw another higher close today, led by Soybeans, with the most actively traded January contract reaching a 15-month high. December Corn futures gained three and a quarter cents, closing a price gap from July 7th, and December Chicago Wheat futures gained three cents. Yesterday’s weekly export inspections report showed Soybean and Corn inspections generally within the range of analyst estimates, though soybean inspections were near the low end. Wheat inspections came in at 259,000 metric tons, slightly below the low end of estimates. Domestically, the U.S. soybean harvest is estimated at 84% complete, which is slightly behind last year but ahead of the five-year average. Corn harvest is estimated to be 72% complete, also ahead of the five-year average. Moving to South America, Brazil's soybean crop is estimated to be 36% planted, matching the pace set last year.
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