CORN
- Dec up 1 ½ cent @ 4.05
- Weekly export net sales of 655K mt – down 47% from last wk
- Bullish China demand outlook continues to offer support
- Argentina rain potential remains good for next week
- Daily export sales 128K mt – delivery Mexico
- Funds net buyers 23K contracts – O/I: +20,300 contracts
SOYBEANS
- Nov down 7 ¼ cents @ 10.55
- Weekly export net sales of 2.631M mt – down 74% from last wk
- Meal demand remains very strong in spite of active crush
- Brazil center south & center expected to get rains over next 10 days
- Daily export sales 175K mt of soybeans – delivery unknown
- Funds net buyers of 6K contracts – O/I: + 535 contracts
WHEAT
- Dec CHI up 8 ½ cents @ 6.26 ¾ & Dec KC up 4 ¼ cents @ 5.62 1/4 & Dec MNPLS up 4 cents @ 5.62 3/4
- Weekly export net sales of 428.5K mt – unchanged from last wk
- Some rains expected for areas of concern, but not enough to ease production concerns
- USD up today – currently at 93.81
- Funds net buyers of 14K contracts of SRW – O/I: +7,200 contracts SRW & + 1,300 contracts HRW
CATTLE
- Oct LC down .45 @ 107.32 & Oct FC down .62 @ 138.25
- Weekly export net sales of 13,400 mt – down 35% from last wk
- Still have heavy weights and beef price downtrend
- Corn rally continues to create weakness in FC
- Cash & meat values have eroded lower keeping pressure on futures
- Cash prices $108 live & 140.91 as of 10/14 for FC
- O/I:-1,859 contracts for LC & O/I: + 81contracts for FC
HOGS
- Dec down .90 @ 68.95
- Weekly export net sales of 26,800 mt – down 56% from last wk
- Hogs posted early firm gains on aggressive support in pork cutouts
- April hog reversal with 74.90 resistance, Dec to gain on April
- Nov. 9th CME launches Pork Cutout futures & options
- O/I: +3,135