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;\">**USDA Corn 24/25 Export Sales Net (12/19): 1,711,300 mt; 25/26 Net: 10,000 mt; expected 1.0-1.7 mln</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 Sorghum (Total) 24/25 Export Sales Net (12/19): NONE mt; 25/26 Net: NONE mt</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;\">-- On Friday, the state run grain buyer in Bangladesh set January 9th as the offer deadline for a tender seeking 50,000 mt of Rice.</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 Friday, China's Commerce Ministry announced they will begin an investigation into beef imports. China is struggling with an oversupplied market after beef imports in 2023 surged to $14.2 billion from $8.2 billion in 2019. Brazil accounts for 42% of beef imports, followed by Argentina and Australia; those three are expected to be impacted most by the investigation.</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;\">-- Rhode Island's health department Thursday reported a batch of cat food from Northwest Naturals tested positive for highly pathogenic bird flu virus, the batch has been recalled.</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 CDC Thursday said the first severe human bird flu samples taken show mutations not seen in samples taken from birds from the infected patient's backyard flock. The mutation was said to be in the part of the virus that plays a key role in attaching to host cells, however the CDC says the risk of an outbreak within the general public remains low.</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;\">-- UNICA data released Friday pegged center-south Brazil Ethanol production at 765 million liters during the first half of December. Sugar mills there allocated 64.33% to ethanol production, and 35.67% to sugar production. Sugar production in the first half of December totaled 348,000 mt from 8.83 mln mt of cane crushed.</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, mild, showery weather is further easing drought that had developed in recent months. According to the U.S. Drought Monitor, 40% of the Midwest was experiencing drought on December 24, down from a late-October peak of nearly 75%. With warmer-than-normal weather in place throughout the Midwest, today’s high temperatures are expected to range from near 35°F in northern Minnesota and environs to 60°F or higher in the Ohio Valley. Early next week, however, cooler air will begin to infiltrate the Plains and Midwest, although temperatures will not be unusually low for this time of year.</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;\">-- Following last night’s strong thunderstorms in the western and central Gulf Coast States, severe weather will return across parts of the South during the weekend. Heavy rain will also fall, with 5-day rainfall broadly totaling 2 to 4 inches or more from the Mississippi Delta into the central and southern Appalachians.</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 Soybeans 24/25 Export Sales Net (12/19): 978,400 mt; 25/26 Net: 125,000 mt; expected 1.4-1.7 mln</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 Soybean Meal 24/25 Export Sales Net (12/19): 389,600 mt; 25/26 Net: 96,000 mt; expected 200k-400k</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 Soybean Oil 24/25 Export Sales Net (12/19): 40,400 mt; 25/26 Net: NONE mt; expected 5k-20k</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 Cotton 24/25 Export Sales Net (12/19): 279,100 rbales; 25/26 Net: 29,500 rbales</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;\">-- Buenos Aires Grain Exchange Friday estimates 24/25 Argentina corn planted acres at 6.6 million hectares, that's up 300,000 ha over the previous estimate</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;\">-- Brazil's supreme court temporarily lifted a law that would have ended tax breaks for companies that followed the "Amazon soy moratorium" agreement. The law would have started January 1st. The country's largest soy producing state, Mato Grosso, had introduced the law earlier this year. The governor of the state will seek to appeal the court's decision.</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;\">-- Local officials cited by media on Thursday afternoon indicated Bunge's Cairo, Illinois soy processing facility fire was largely under control by noon local time. Eight fire departments were called to the scene earlier this morning, with thick smoke seen billowing from conveyor belts feeding three large soy silos. Company officials haven't given an update on the state of the facility yet, and it's unclear at this time which parts and how long the plant will be affected.</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;\">**USDA Wheat 24/25 Export Sales Net (12/19): 612,400 mt; 25/26 Net: 12,600 mt; expected 250k-600k</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;\">-- Egypt's Mostakbal Misr, according to reuters sources, purchased 1.267 mln mt of Wheat, thought to be mostly of Russian origin. The purchase was said to satisfy the country's wheat needs through the end of June 2025, and will likely eliminate the need for additional purchases in the upcoming period.</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;\">-- Trade sources Friday reported up to 120,000 mt of feed Barley is sought by Jordan's state grain buyer in a tender to close on Tuesday, Dec 31st. The grain is expected for shipment between March 1 through the end 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;\">-- Ukraine's President on Friday claimed they've sent their first volume of food aid to Syria, including 500 metric tons of Wheat flour in cooperation with the United Nations world food program.</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 Friday, Russian court documents cited by reuters shows grain trading company, Rodnie Polya, was stripped of all property, after the Russian court accused the company's owner of breaking the law that forbids foreigners from holding ownership in strategically important companies. The owner holds a St Kitts/Nevis passport. The company was formally known as TD RIF was among the country's top grain trading houses.</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, dense fog is causing local travel disruptions, especially from the eastern Dakotas southward into northern Texas. Despite widespread fog and cloudiness, above-normal temperatures are keeping any remaining snow cover confined to northern, central, and eastern North Dakota, as well as portions of neighboring states.</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;\">-- The NWS 6- to 10-day outlook for January 1 – 5, 2025, calls for the likelihood of near- or above-normal temperatures throughout the Plains, West, and North</span></p><br></div>