Dec 3 Morning Ag Commentary

Wheat prices overnight are up roughly 4 cents in the SRW Wheat, up 6 in HRW, and up 3 for HRS; Corn is up 2 cents; Soybeans up 3; Soymeal up $1.00, and; Soyoil up 15 points.

Chinese Ag futures (May) settled up 74 yuan in Soybeans, down 1 in Corn, down 3 in Soymeal, down 30 in Soyoil, and down 36 in Palm Oil.

The Malaysian Palm Oil market was up 15 ringgit at 2,746 (basis February).

The South American weather forecast for Brazil in the 6 to 10 day outlook continues with good rainfall continuing in the north while south remains dry in the growing regions. Argentina’s 6 to 10 day outlook is mainly dry.

In deliveries, Soymeal totaled 319 lots; Soyoil 878; Corn ZERO; HRW Wheat 11; Oats ZERO; SRW Wheat ZERO, and; HRS Wheat 17.

Preliminary Open Interest saw SRW Wheat futures up roughly 4,600 contracts; HRW Wheat up 3,000; Corn down 3,300; Soybeans up 18,000 contracts; Soymeal up 8,400 lots, and; Soyoil up 6,200.

There were changes in registrations (HRS up 285)—Registrations total ZERO contracts for SRW Wheat; ZERO Oats; Corn 216; Soybeans 1,469; Soyoil 2,584 lots; Soymeal 710; Rice 477; HRW Wheat 11, and; HRS Wheat 954 contracts.

TODAY—DELIVERABLE STOCKS—

—U.S. President Donald Trump said on Tuesday he had no deadline for reaching a trade agreement with China and it might be better to wait until after the U.S. presidential election in November 2020.

—U.S. President Donald Trump said a trade deal with China would only happen if he wanted it to, and he thought he was doing very well in the talks.

USDA SAYS 5.62 MILLION TONS (187 MILLION BUSHELS) OF U.S. SOYBEANS CRUSHED IN OCTOBER

—USDA SAYS 436.8 MILLION BUSHELS OF CORN USED FOR FUEL ALCOHOL IN OCTOBER, DOWN FROM 461.9 MILLION A YEAR AGO

—USDA SAYS 1.862 MILLION TONS OF DDGS PRODUCED IN OCTOBER, DOWN FROM 1.98 MILLION A YEAR AGO

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2019-12-03T14:11:59+00:00 December 3rd, 2019|