Tuesday November 30, 2021

  • Markets lower again this morning 
  • Crude oil market continues to face volatility with the uncertainty surrounding this new COVID variant and how it may impact travel through the holidays 
  • Australian wheat production estimate from ABARES has been increased for the 2021/22 season by 1.7 MMT to 34.4 MMT as we draw closer to their harvest period 
  • U.S. crop progress and conditions report
    • No update on corn or soybean harvest – indicating that harvest is pretty well over
    • Winter wheat conditions were steady this week at 44% good/excellent
      • Still lower than the five year average of 52% g/e