Morning Grain Comments, 11/30/2015

Monday, November 30, 2015

Grain volume exploded to start post-holiday trade but results were almost nil, with only the lame-duck WZ making any real pronounced move, while the rest of that complex was steady to better. Beans continue to see the best support off recent lows after that bullish reversal a week ago.

Egypt’s Supply Minister said that domestic wheat production and imports would be likely to remain stable in calendar 2016.

UkrAgroConsult reported 28% of Ukraine’s winter grain crop in “good” condition as of November 26, compared to 41% last year, with 36% in “poor” shape, compared to 18% in 2014.

Brazilian consultants AgRural reported 81% of the country’s soybean crop as planted on Friday, up 11% on the week but still below last year’s 85% pace and the 89% five-year average on this date. Forward sales of the crop hit 44% by mid-November, up from 41% a month prior and well above 26% last year.




Weekly corn export sales came up with their largest number in nearly a year at just over 80 million bushels, not including new-crop sales of over 20 mbu as well; however, actual shipments totaled just 20.9 mbu to lose further ground against last year’s pace, now 87 mbu behind LY through 12 weeks of the marketing season. Meanwhile, bean shipments of over 70 mbu still lost ground to a comparable total of over 100 mbu LY, to stand 34 mbu behind last year’s pace.

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