29.10.2018 (Agriculture.com) -  DES MOINES, Iowa -- On Monday, the CME Group’s farm markets end lower.

At the close, the December corn futures finished 1¢ lower at $3.66. March futures finished 3/4¢ lower at $3.79 1/4.

November soybean futures finished 6¢ lower at $8.39. January soybean futures closed 5 1/2¢ lower at $8.52 1/4.

December wheat futures closed 2¢ higher at $5.07 1/4.

December soymeal futures closed 0.90¢ per short ton higher at $308.20. December soy oil futures finished $0.27 lower at 27.89¢ per pound.

In the outside markets, the NYMEX crude oil market is $0.73 lower, the U.S. dollar is higher, and the Dow Jones Industrials are 55 points lower.

On Monday, private exporters reported to the USDA export sales of 120,000 metric tons of soybeans for delivery to unknown destinations during the 2018/2019 marketing year.

The marketing year for soybeans began September 1.

Al Kluis, Kluis Advisors, says harvest progress and Brazil’s soybean planting progress will drive this week’s markets.

“The USDA Crop Progress Report today will show corn harvest about 60% complete, and soybeans will be at about 68% complete. More trade attention will now be focused on South American weather and crop development,” Kluis stated in a daily note to customers.

He added, “The conservative candidate in Brazil won the presidential election yesterday. That is viewed as being positive for the Brazilian currency (the real) and supportive for U.S. soybean prices.”