Grains seeing some strength in the overnight session. Beans up a nickel, corn up 2 cents, and what up 3 ½ cents.
First Notice Day is Friday, Nov. 30th.
The G20 eco summit starts Friday in Buenos Aires. U.S. is taking a firm stand with China with promise of further tariff increases. US-China premeeting talks are still in the works.
US ethanol margins remain a negative factor across the corn belt.
US all wheat export inspections are running 19% behind last year at this time.
SovEcon upped their Russian wheat export forecast to 34.7 mil tons, 500k higher than their previous estimate.
Chart of the Day
Grains and animal feeds have taken a 5% hit in value in recent years. Other major commodity groups have risen in value since 2015, but shares have remained firm due to overall export growth. Lower-valued commodity groups (cotton, tobacco, and seeds category) have grown significantly since 2015, seeing a 31% increase.