Morning Quick Notes

Overnight

  • Grains higher in the overnight led by Beans
  • Near the break Corn and wheat were up 2 cents,
  • Beans were up 11 cents

 Headlines

  • According to Trump tweets tradde talks are "moving along nicely" with China
  • Trading volume in Chicago corn yesterday was teh highest since Aug 10th
  • Export sales report yesterday was very disappointing for corn and beans
  • INTL FCStone pegged U.S. corn yields at 181.4 bushels per acre, down from
    182.7 bpa in October, with production at 14.830 billion bushels, 52 mln bu
    above the Oct USDA

 Chart of the Day

Weekly U.S. old-crop soybean exports “picked up” this week to 14.5 million bushels, compared to 7.8 mbu the
week prior, but 72.3 mbu on the same week last year. Cumulative sales since September 1 stand at 788 mbu, the
slowest since 2011 and now down over 325 mbu from last year’s pace. China and “unknown” cancelled more cargoes
this week (combining to total more than 21 mbu) and cumulative sales to China for the ‘18/19 season stand at just
35.4 mbu, compared to 586.8 mbu at this point last season.