Friday October 11, 2024

• Corn, beans, and wheat are all trading in the green this morning!
• Corn, beans, and wheat export sales were within range of estimates, but lower than the prior week. Corn and bean sales are both still running behind the needed pace to meet the current USDA’s expectations. China has been the main buyer of beans so far, but has not booked many tonnes for December and January. 
• US Interest Rate Update: The CPI data rose 0.18% last month, which was above estimates, but lower than the pace in July/ August. Car and Home Insurance continue to be some of the biggest culprits of inflation. 
• Global wheat production is expected to decline due to unfavourable growing conditions, drought and frost taking the top two spots. 
• Argentina Corn planting is at 18.5% complete, but many farmers have stopped planting in there western growing areas due to dry soils and limited rainfall. 
• October WASDE’s Crop Production and S&D will be released at noon today.