Exports: Sold South Korea 368,000t; Sold Taiwan 60,000t; Japan buys 58,000t feed wheat (in for another 120,000t) and 36,000t feed barley (in for 200,000t more).
Comments: Sold South Korea 500,000t in two days? All-Asian demand perked back up as U.S. price make new lows; rains moving in to curtail harvest activity in parts of Midwest; open interest rose 12,500 even as Dec. falls 5,400 amid stronger volume….funds getting more cocky short selling but in the drivers seat. Should be an interesting export sales update tomorrow. No fresh feel.
Exports: So.Korea buys 15,000t soymeal and 10,000t Rapeseed meal India origin.
Comments: 1st notice day Thursday; open interest again fell hard (though way under the previous day) with November off another 22,600, total off 10,700, amid good volume….all that’s left is 49,000 contracts. India will be a tough competitor for soymeal business under an ample oilseed harvest; Asian CPO futures higher on Malaysian weather concerns, China buying; USDA recap of October’s weekly export sales will be “IN TOTAL” only and not broken down by weeks apparently. November beans holding well, didn’t make a new swing low on recent break and recovering not that far back from its $13.00 magic area…..takes away some my shame from the corn action, eh?
Exports: None Visible.
Comments: No surprise but a problem: India lowered minimum export price from $300/ton to $260/ton to help clear (stubbornly held) reserve stocks ahead of a robust harvest; Argentina rains again o concern as good for planting corn and beans but could damage wheat/delay harvest; open interest little changed in total even as Dec. drops 5,180 amid moderate volume. Treating as a trading affair has been the best advice here at least.
Livestock note: some hog talk that has been NO numbers associated with reported outbreaks of PEDV in any of the reporting districts…means could be 1 or 1,000? For now, the funds are chasing the headlines, will see how right they eventually be.