Thursday November 7, 2024

Morning flash sale of 120,000mt of corn sold to unknown destinations for delivery during the 24/25 marketing year.
Ukraine’s Ag Minister reported they would meet their 2025 winter grain planting target at 12.85 million acres despite difficult weather, they are 95% planted thus far.
Brazil reported October soybean exports at 4.71mmt, down from 5.6mmt last year, corn export of 6.41mmt, down from 8.45mmt a year ago.
Chinese customs reported October soybean imports at 8.09mmt, with cumulative Jan-Oct imports at 89.94mmt, up 11.2% from last years pace.
Total fuel ethanol production rose for the sixth straight week this week to 1.105 million barrels per day. Cumulative production now is up to an impressive 1.054 mln bpd, ahead of the needed pace to meet the USDA’s corn use for ethanol estimate.
A warm and wet pattern continues in the U.S., heavy in the south over the next five days. Brazilian rains continued from the north to the south over the past 24 hours, good coverage seen across crop areas through to Monday.
The stock markets soared yesterday morning, as markets digested a second Trump Presidency, the US dollar rallied to a 4-month high.
Export Sales for the week ending 10/31/2024 met expectations. Corn export sales were above expectations, while beans and wheat were within the range of estimates.