Grain & Oilseed Mid-Session News Update
<div class=\"default-font-wrapper\" style=\"line-height: 1;font-size: 12pt; font-family: Verdana, Geneva, sans-serif;\"><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">Grain & Oilseed Mid-Session News Update</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;\">QT News - Top News</span></p><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">CORN</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**EIA Fuel Ethanol Stocks change (w/e 11/29): +134,000 bbls to 23.003 mln bbls; pct change 0.59%</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**EIA Fuel Ethanol Production change (w/e 11/29): -46,000 bbl/day to 1.073 mln bbl/day</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Algeria on Wednesday announced they're seeking up to 240,000 mt of Argentina or Brazil origin feed grade Corn in a tender to close on Thursday, Dec 5th. The grain is for shipment from Dec 15 to Jan 10.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Wednesday, Jordan's state grain buyer did not make any purchase in their 120,000 mt Barley tender that closed today. Another tender is expected to be announced shortly and is expected to close on Dec 11th.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Thursday, Stats Canada will release their 24/25 crop production figures around 7:30 am CT.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 Corn production at 15.37 mln mt, that compares with last year's 15.42 mln mt crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 Oats production at 3.1 mln mt, that compares with last year's 2.64 mln mt crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 Barley production at 7.8 mln mt, that compares with last year's 8.91 mln mt crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Mexico's economics minister said he expects a resolution regarding imports of GMO corn dispute under USMCA by December 14th. The recently installed Mexican President administration said they will seek to protect the country's non-GMO white corn self sufficiency, rather than seeking to curb imports of largely yellow GMO corn.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Despite repeated previous comments from the US Treasury Department regarding issuance of new clean fuel tax credit guidance, sources cited by Reuters on Wednesday say the Biden administration will not issue that detailed guidance before January 20th inauguration. The tax credits for sustainable aviation fuels was expected to come into effect on January 1st.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- US Senator Grassley said the biofuel industry would be disrupted by delaying the clean fuel tax credits, chiding the Biden administration for prioritizing pet projects on the two coasts, but leaving out Midwest Americans.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- In the Corn Belt, light snow is confined to portions of the Great Lakes region. Elsewhere, breezy weather prevails in advance of an approaching cold front. Despite gusty winds, many Midwestern producers continue to take advantage of relatively open weather to perform farm maintenance and other off-season activities. In the South, rain showers have developed across eastern Texas and are spreading into Louisiana. Cool, dry weather covers the remainder of the South.</span></p><br><br><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">SOY</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA reported private sale of 30,000 mt of Soyoil to South Korea for the 24/25 MY</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Despite repeated previous comments from the US Treasury Department regarding issuance of new clean fuel tax credit guidance, sources cited by Reuters on Wednesday say the Biden administration will not issue that detailed guidance before January 20th inauguration. The tax credits for sustainable aviation fuels was expected to come into effect on January 1st.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- US Senator Grassley said the biofuel industry would be disrupted by delaying the clean fuel tax credits, chiding the Biden administration for prioritizing pet projects on the two coasts, but leaving out Midwest Americans.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Thursday, Stats Canada will release their 24/25 crop production figures around 7:30 am CT.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 Canola production at 18.51 mln mt, that compares with last year's 19.19 mln mt crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 Soybean production at 7.3 mln mt, that compares with last year's 6.98 mln mt crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Traders noted the Goldman Sachs Index Fund this Friday starts rolling out of long January soy complex futures</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- In the Corn Belt, light snow is confined to portions of the Great Lakes region. Elsewhere, breezy weather prevails in advance of an approaching cold front. Despite gusty winds, many Midwestern producers continue to take advantage of relatively open weather to perform farm maintenance and other off-season activities. In the South, rain showers have developed across eastern Texas and are spreading into Louisiana. Cool, dry weather covers the remainder of the South.</span></p><br><br><br><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">WHEAT</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Traders reported a snap tender was issued by group of Thai importers, seeking around 120,000 mt of feed Wheat. The grain is for shipment from February through June 2025.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Wednesday, Jordan's state grain buyer set Dec 10th as the offer deadline in a tender seeking up to 120,000 mt of mill grade Wheat. Shipment is expected between LH February through the first half of April.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Wednesday, Jordan's state grain buyer did not make any purchase in their 120,000 mt Barley tender that closed today. Another tender is expected to be announced shortly and is expected to close on Dec 11th.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Traders familiar with Turkey's sales tender today, say the state grain board did not appear to make any sale at their 100,000 mt Durum Wheat sales tender. The highest bids were said to be around $311 to $312/mt fob, but the grain board had been projecting prices in a range of $325.00 to $330.00/mt.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On Thursday, Stats Canada will release their 24/25 crop production figures around 7:30 am CT.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 All Wheat production at 34.0 mln mt, that compares with last year's 32.95 mln mt crop. Spring wheat production this year is seen at 25.98 mln mt, compared ot the 25.52 mln mt last season.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 Durum Wheat production at 6.1 mln mt, that compares with last year's 4.09 mln mt crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Ahead of Thursday's Stats Canada crop report analysts are estimating 24/25 Barley production at 7.8 mln mt, that compares with last year's 8.91 mln mt crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Crop analysts in Australia say recent rains have damaged Australia's huge wheat harvest, estimating between 2.5 mln mt to 5.0 mln mt of wheat grown in southeast Australia have been downgraded to animal feed from mill quality wheat. The downgrade range is 8% to 16% of the expected total crop.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On the Plains, temperatures have rebounded to near- or above-normal levels, except in parts of Montana and North Dakota. Later today, high temperatures across the southern half of the Plains should range from 55 to 70°F, allowing for further development of winter wheat in areas where planting and emergence had been delayed by drought in September and October.</span></p><br></div>