CORN

• Dec up 2 cents @ 4.16
• No daily export sale
• Weekly export net sales 1.831M MT
• Argentina rainfall greater than expected, look to improve conditions
• China demand could keep ending stocks outlook tight
• Funds net buyers of 17K contracts – O/I: +29,900 contracts
• Dec support @ 4.09 & resistance @ 4.17

SOYBEANS

• Nov up 5 cents @ 10.77
• Daily export sales 152.4K mt of to Mexico & 132K mt to unknown delivery
• Weekly export net sales 2.225M MT
• Explosion at an Argentine export facility drives meal to new highs
• Brazil rainfall will be erratic over next 14 days, need to stay mindful of areas of concern
• No sign of a top – S. American weather continues to improve crop/planting conditions
• Funds net buyers of 7K contracts – O/I: +13,800 contracts

WHEAT

• Dec Chi down 5 cents @ 6.24, Dec KC wheat down 5 cent @ 5.64
• Daily export sale of 130K mt of white wheat to S. Korea
• Weekly export net sales 367.5K MT
• U.S. HRW wheat areas will see greater rainfall this weekend and next wk
• Argentina cut yield projection by 2% to 17.8 mt, despite current rains
• Funds net even contracts of SRW – O/I: +4,100 contracts SRW & +145 contracts HRW

CATTLE

• Oct LC down .25 @ 103.40 & Oct FC down .10 @ 134.30
• Lowest beef since Aug 11 with ample supply & sluggish demand
• Eroding fundamental & technical support encouraging selloff
• Cattle on Feed Report out 2:00 CT tomorrow
• Cash prices in the south @ 107 for LC  & @ 138.36 as of 10/20 for FC

HOGS

• Dec down 2.20 @ 67.00
• China imports may decline in months ahead
• Pork exports neutral/bearish with sales at 26,800 mt
• Cash lean index for 10/20 is 78.69
• O/I: +248 contracts

Author

Amberlee Bratcher