Morning Quick Notes

Overnight
Grains mixed to weaker in the overnight session. Near the break corn is down 2 cents, wheat up 1 cent, and beans down 2 cents

Morning Headlines
USDA Report out at 11 a.m.

Average trade guess for US 2018 corn crop is 14,872 mil bu vs USDA 14,827. Soybean crop is estimated near 4,733 vs USDA 4,693. US Average trade guess for US 2018/19 corn carryout is 1,919 mil bu vs USDA 1,774. Soybeans are est near 898 vs 845. Wheat is estimated near 950 vs 935.

Brazil is on track to export a record $100 billion worth of agricultural products this year as demand for staple commodities like beef and soybeans from the South American country remain strong. The amount represents a 4.2 percent rise from last year and is slightly higher than the previous record of $99.97 billion in 2013.

Southwest Kansas weekend weather has rain hitting on Saturday night and expectations of up to 8” of snow on Sunday, into Sunday night.

For you weather and Waffle House types watching Hurricane Michael: https://www.fastcompany.com/90249340/what-is-the-waffle-house-index-fema-looks-to-closures-during-hurricane-michael

Chart of the Day
The 2018 U.S. corn and soybean harvest campaigns slowed down a bit in the week to Sunday night, with corn adding eight points (vs 10% the week prior) and beans up 9% (even with the previous week but behind the week’s aver-age progress and trade expectations. Minnesota, Iowa, and SD all unsurprisingly went from ahead of average to behind due to the historically wet fall weather, likely to fall further back of average this week as well. The national 5YA soy-bean harvest should hit about 54% this upcoming week.