Grains mixed overnight. Wheat up 2 cents, corn down ¾ cent, and beans down 9 cents.
The G20 economic summit meetings in Buenos Aires start up Nov 30th.
Over the weekend, a major escalation in tensions between the Russian navy and Ukraine in the Black Sea/Sea of Azov region near Crimea, where Russian ships have blockaded passage and Ukraine’s government has declared a state of emergency.
China customs data show soybean imports for October of 6.53 mil tons from Brazil - 94% of their total. Only 67k tons come in from the US.
Argentina is in talks with China to open up possible soybean meal imports. Argentine soy industry representatives are in discussions with Chinese officials trying to open up meal imports to China and hope to work out a deal in the near future. China has rarely ever imported bean meal.
BAGE calling Argentine wheat harvest at 21% complete. The Rosario Exchange lowered slightly their Argentine wheat crop projection to 19.0 mil tons, down .2 mil from previous.
Chart of the Day
Snow and rain swept through the central Plains and especially the central corn belt southeastward, lingering in the ECB this morning; a drier week is on tap before another active weekend next weekend in the Plains and belt, lasting through both the 6-10 and 11-15 day time frames. Temperatures look to re-main firmly set in the below-normal range into early/mid-December.