Thursday December 2, 2021

• Markets working on rebound day two this morning 
• Global wheat buyers stepping back up for some bargain buying after recent losses 
• China also using the downtick in the soybean market to put on some new sales 
• StoneX increased their production estimate for 2021/22 Brazilian soybeans from 144.7 to 145.1 MMT due to near ideal planting thus far
• StoneX also increased their total production estimate for 2021/22 Brazilian corn to 120.1 MMT – which would be a new record 
• U.S. October crush numbers came in at 196.9 million bu – above average estimates and last months numbers 
• U.S. October corn used for ethanol also came in strong at 469.3 million bu – above last month and last year 
• Stats Canada updated their estimate for 2021 wheat production to 21.2 MMT – up half a million tones from last estimate 
• Weekly U.S. export sales
  • Corn was strong, soybeans in the mid range of expectations and wheat came in below expectations