CME GRAINS: Corn: $6.83 (+0.50); Soybeans: $15.095 (-14.00); Wheat: $7.50 (-2.50); Cotton: $86.89 (-0.61)
National Corn Wire
ENERGY PRICES: Crude Oil: $79.46 (-1.55); Heating Oil: $3.2679 (-0.1286); Natural Gas: $2.865 (+0.017)
Market Update
SHORT-RANGE WEATHER: A strong arctic front will bring heavy snow and blowing snow and high winds across the North Plains
Weather
CORN MARKETS: The past few days of trade has the charts looking like the March contract is attempting to break out to the upside, while the December is on the verge of another leg lower. (Schwieterman)
NBW Market Commmentary
GRAIN TRENDS (Short Term/Long Term): CORN: Up/Up; WHEAT: Up/Down ; SOYBEANS: Down/Up
National Corn Wire
DROUGHT MONITOR: Amidst the wild and devastating weather week, drought mostly held at status quo. The West saw some improvements, and the Southern Plains saw degradations, with mostly small changes elsewhere (VIEW REPORT)
Weather
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports
USDA GRAIN STOCKS REPORT: Corn stored in all positions on December 1, 2022 totaled 10.8 billion bushels, down 7 percent from December 1, 2021. Soybeans stored in all positions on December 1, 2022 totaled 3.02 billion bushels, down 4 percent from December 1, 2021
Market Update
OILSEED OUTLOOK (WASDE): U.S. oilseed production for 2022/23 is estimated at 126.0 million tons, down 2.0 million from the previous report on smaller soybean, sunflower, canola, and peanut crops
National Soybean Wire
BEFORE THE BELL: U.S. stock index futures were subdued ahead of the keenly awaited December inflation data that would offer more clues on the Federal Reserve's path of monetary tightening. Gold gained on softer dollar. Oil prices rose supported by optimism over China's demand outlook (Reuters)
Market Update
Gas prices up 4 cents this week to $3.26, down 4 cents from last year. Diesel prices down 3 cents this week to $4.55, up 89 cents from last year
Cash Prices
USDA Crop Production Comments: Upland harvested area for the Nation is expected to total 7.71 million acres, unchanged from the previous forecast but down 24 percent from last year
Market Update
Mortgage rates in the US faced the biggest weekly decline in nearly 41 years, providing some relief after a rapid run-up that quickly priced out homebuyers. The average rate for a 30-year fixed mortgage was 6.61%, the lowest level in almost two months (Bloomberg)
Market Update
OIL CROPS OUTLOOK (Domestic): Despite a strong start to the 2020/21 soybean meal marketing year, meal exports waned over the summer even though prices fell (VIEW REPORT)
National Canola Wire
OIL CROPS OUTLOOK (International): Throughout September, Argentina received some much-needed rainfall in the northeast region of the country (VIEW REPORT)
Ag Reports: Most Recent
AG WEATHER SUMMARY: In nearly all areas of the country, summer crop harvesting during October advanced at a torrid pace, amid frequently drier-than-normal conditions
Weather
UNITED STATES AG PRICES REPORT: Cattle prices in September 2022 were reported at $143.00, up 15.3% from last year. Calf prices were reported at $195.00, up 12.7% from last year
Cash Prices