Good Morning!

The grain markets are under mild pressure as we approach the weekend; fresh fundamental news remains scarce. Ag futures on the Dalian Exchange are mostly higher. The outside markets are mixed with the dollar holding near unchanged, crude oil is a dollar higher and equities are under pressure. For the week, nearby corn futures are down 3 cents, Chicago wheat is up a penny and nearby beans are unchanged.

The weather outlook for South America has no major changes as Brazil is expected to receive average rainfall over the near to mid-term. Argentine weather becomes dry for the weekend and most of next week with a front bringing light to moderate rains to most areas by the end of next week.

The Buenos Aires Grain Exchange est. Argentina soy planting at 22% complete versus the 5-year avg. of 37%.

U.S. Trade Representative Robert Lighthizer on Thursday denied a report that he told industry executives that another round of tariffs on Chinese imports had been put on hold as the two nations pursue talks.

Well followed Informa Economics sees 2019 all wheat acreage at 48.981 mln acres versus 47.8 last year. Winter wheat acres are pegged at 33.111 mln, durum 1.920, and other spring at 13.950 ma. Corn acreage is est. at 92.849 million versus 89.14 a year ago. Soybean acreage is pegged @ 83.459 vs 89.145 mln last year.

Have a great weekend and be safe out there!