Morning Grain Comments, 11/06/2015

Friday, November 06, 2015

Slow and choppy trade action, slow-ish volume were the norms for the overnight grain session; the trade is basically in wait-for-USDA mode, with only a U.S. jobs report ahead this morning for excitement...

France AgriMer reported the country's farmers basically finished with both this season's corn harvest and wheat planting for next year; customs data showed soft wheat exports outside the E.U. at 678k tonnes in September; total exports outside the Union since July stand at 2.1 MMT, up 21% from last year's pace, though total wheat exports are still down 3% vs LY at 3.8 MMT.

Russian Jan-Sept wheat exports of 13.3 MMT are down from 15.6 MMT LY.

The E.U. granted export licenses for 293k tonnes of soft wheat this week, bringing the total from 7/1 to 7.1 MMT—31% below last year's 10.3 MMT.

November CBOT deliveries: soybeans 51 contracts, next trade date 10/28/15.


Soybean export sales regressed in a big way this week, with a 24.1 million bushel total marking less than a third of each of the previous two weeks, and well under half the comparable week last year. Cumulative sales of 1026 mbu now stand 282 mbu behind last year's pace through about the first two months of the marketing year. Soybean shipments appeared stout at 80.2 mbu, but that had to compare to 103.1 mbu last week and 107.1 mbu on this week last year.



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