November 29, 2018 Travis Antonsen Producer Marketing Manager Reminder…..any unpriced BF or HTA contracts vs the Dec futures need to be priced or rolled by noon TODAY! CORN: As of 7:45 – 1 lower Corn was up a nickel yesterday in tandem with the strength coming from the bean complex. Ethanol prices fell to the lowest level ($1.15 in Chicago) in 13 years yesterday as stocks increased and output was slightly higher on the week. Traders were (and still are) anticipating a slowdown in production due to negative margins. Export sales this morning were solid at 49.9 million bushels with S Korea, Columbia, and Japan taking the top three spots. SOYBEANS: As of 7:45 – Down 6 Jan bean futures closed 15c higher yesterday on optimism that there will be some kind of good news coming out of the Trump/Xi meeting in the Argentina G20 meetings this weekend. In an unfortunate and surprising manner, Argentina has become the largest US export customer for soybeans…… Export sales out this morning had beans at 23.1 million bushels, within the range of expectations (15-33). The Dutch and Argentina were the biggest shoppers of US soy on the week. Below is cumulative export pace for beans. WHEAT: As of 7:45 – Steady KC and Chi wheat both closed higher yesterday while Mpls traded in the red. Feels like global acres are expanding, especially in the EU, India, and Ukraine….will the US follow suit with more HRS acres? Wheat export sales were a little better than last week, but below the pace needed to hit USDA’s final number. Will we get more business this winter due to the smaller Russian crop?