Good Morning! Thank You to all the Veterans who served and are serving today for your sacrifice for this great Nation we live in! Corn, wheat and soybeans are all trading lower over concerns between the US and China trade negotiations. Friday’s WASDE report which showed ample supplies also weighing on markets. President Trump on Friday said he has not agreed to rollbacks of U.S. tariffs sought by China, sparking fresh doubts about when the world's two largest economies may end a 16-month trade war that has slowed global growth. On Thursday, officials from both countries said China and the U.S. had agreed to roll back tariffs on each other’s' goods in a "phase one" trade deal. Although, the idea of tariff rollbacks met with stiff opposition within the Trump administration. Brazil soy seeding is estimated to be near 57% complete. Corn seeding is estimated near 42% complete. Friday’s COT report showed that funds are net short 654 Chicago wheat (up 5,696 contracts) and 104,846 contracts of corn (up 19,509). Funds are long 58,429 contracts of soybeans (down 13,896 contracts). In soy products, funds are short 37,554 contracts of soymeal (up 8,504 contracts) and long 84,643 contracts of soyoil (up 9,8290 contracts). Brazil and Argentina crop areas do have pockets of dry conditions, but weather models show a more normal rainfall pattern into the last week of November. The central U.S. forecast is cold for the next 6-7 days with record low temps likely across certain areas of the Corn Belt. The 10-15-day forecast shows a warmer profile. The weekly crop progress report will be delayed until tomorrow due to todays Veteran’s holiday. We expect soy harvest to be near 90% complete and corn harvest to be near 66-68% complete. US winter wheat ratings are likely to remain unchanged at 57% rated good to excellent. Have a great day! Wayne Kollis - Melissa Peters - Mike Rosenberg - Matt Zeman - Austin Behrendsen
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High
26 F
35 F
32 F
40 F
43 F
Low
1 F
25 F
18 F
23 F
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70%
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