Morning Quick Notes

Grains are mixed in the overnight session. Corn up 1 ½ cents, wheat and beans down 1 ½ cents.

Morning Headlines
For the week, winter wheat prices are up 6 for HRW, corn is unchanged and soybeans are down 11 cents.

Ag Secretary Perdue said he expects to meet with the OMB today to discuss approving a second portion of MFP payments.

China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country's finance ministry said.

Reportedly, Informa pegs 2019 winter wheat acreage at 32.253 mil acres versus 32.535 mil a year ago, 2019 corn acreage at 91.944 mil acres versus 89.140 mil a year ago, 2019 soybean acreage at 85.069 mil acres versus 89.145 mil a year ago.

Chart of the Day
Soybean export sales came in nearer the low end of trade expectations this week at 29.1 million bushels, down from 32.7 mbu the week prior and 53.4 mbu on the comparable week last year. China remained absent (or worse) from the market, taking basically zero soybean shipments and cancelling another 60k tonnes on the week ending 12/6, though reports indicate that could start changing come next week. Cumulative bean sales of 916 mbu are now 467 mbu be-hind last year’s pace, and still the slowest since 2011/12.