By Kirk Maltais

--Wheat for December delivery fell 1% to $5.91 3/4 a bushel, on the Chicago Board of Trade Thursday, in response to marketing year-low export sales along with general selling across the grains complex.

--Corn for December delivery fell 0.8% to $4.22 1/2 a bushel.

--Soybeans for January delivery rose 0.2% to $11.77 1/2 a bushel.

HIGHLIGHTS

Wheat's Woes: Export sales of U.S. wheat hit a paltry 192,400 metric tons for the week ending Nov. 12, a marketing year low according to the USDA. This week's total is down 36% from the previous week and 62% from the prior 4-week average, the USDA says. The total also falls below expectations of grains traders surveyed by The Wall Street Journal, who estimated wheat sales between 250,000 tons and 550,000 tons. For traders hoping to see stronger demands for U.S. grains across the board, the sales were disappointing according to ED&F Man Capital.

Clouds A-Comin': Rainfall in dry areas of Brazil triggered a move lower for CBOT grains futures overnight and in today's trading session. Even though many areas like Southern Brazil remain parched, longer-term forecasts show more rain coming, prompting grains traders to sell. Corn and soybeans closed at one-year and four-year highs yesterday, respectively.

Recordbreaker: Soybean futures on the CBOT turned higher -- after starting lower today -- as soyoil futures continued to ride an updraft, closing with a 0.6% gain to $38.67 per pound, the highest they've been since July 2014. The movement follows a wider shift in the dynamics of the soyoil market, said Arlan Suderman of StoneX. "The growing emphasis on green energy is pushing policies around the world toward greater inclusion of biodiesel made from vegetable oils," said Mr. Suderman. "Also, there's been a greater focus on unsavory palm oil plantation business practices that may push more buyers to other vegetable oils like soyoil to avoid being tied to the controversy." As a result, demand has grown strongly for soyoil, according to Mr. Suderman.

INSIGHT

Tastes Like Chicken: Plant-based meat has made big gains in grocery store presence and consumer interest this year, even with the coronavirus pandemic altering consumer patterns. Dollar sales of products containing tempeh -- protein made from fermented soybeans -- are up 148% from the previous year, according to data from Nielsen. This week, Greenleaf Foods SPC announced that its Lightlife tempeh product is now available in 3,500 Walmart stores, bringing the total availability to 18,500 retail locations nationwide, with sales growing 44% this year. "Lightlife Tempeh accounted for about 80% of total US tempeh dollar sales so far this year," said Dan Curtin, president of Greenleaf Foods, SPC. "This is only the beginning as we further grow the plant-based category with our variety of plant-based products."

All Aboard!: Rail shipments of U.S. grains continue to grow over this time last year, according to data from the USDA. In its latest weekly grains transportation report, the agency says that U.S. Class I railroads originated 27,426 grain carloads during the week ending Nov. 7, a 2% increase from the previous week and 26% more than last year. Additionally, barge grain shipments totaled 972,835 tons, 5% higher than the previous week and 9% over last year. Shipments appear to be staying strong despite the resurgence of coronavirus nationwide, a positive indicator for grains traders. 


 
AHEAD

--The USDA will release its monthly cattle on feed report at 3 p.m. ET Friday.

--The CFTC releases its weekly commitment of traders report at 3:30 p.m. ET Friday.

--The USDA releases its weekly grain export inspections data at 11 a.m. ET Monday.

--The USDA will release its monthly cold storage report at 3 p.m. ET Monday.

--The USDA releases its weekly crop progress report for the 2020/21 crop at 4 p.m. ET Monday.

Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

11-19-20 1547ET