Exports: Japan buys 10,390t feed barley.
Comments: Harvest 84% complete vs. 79% avg.; side note on Japan’s feed barley said no feed wheat done as corn “cheaper”; I understand the USDA will list Oct./Nov. acreage data some time today; open interest fell 1,580 led by Dec. off 27,600 (big rolling?), volume moderate. Made my bed in here, will stay with it awhile longer. EPA’s expected ruling on mandate uncertain.
Exports: None Visible.
Comments: Deliveries 68, street clowning around still; harvest 91% complee vs. 92% avg.; China futures strongly higher in soymeal and soyoil; charts indicate an upside breakout over trend line resistance, need to see follow through at some point; nearby support $13.11-1/2-12.99 then likely must hold that low of $12.88-1/4. Overnight weakness seems an inter-market correction on overbought conditions.
Exports: Japan in 129,445t U.S./Can./Aust.
Comments: Well, no bullish news around for the wheat still being hit with negative global news, now with: France sees crop at 35.6mln.m/t’s up 3.8% on yr.; Japan says has “ample” wheat until Feb.; newspaper article sees U.S. diet changes including less flour consumption; winter wheat 95% complete vs. 93% avg.; gd./excel. at 65% up 2%; open interest rose 5,800 (funds keep hammering it) amid strong volume; technically, the major test of prices comes in at two month lows $6.40-6.35, close under and game over for weak longs; glad I stayed neutral here while friendly corn, perhaps I should have spread it; key is can corn demand withstand what could be possible mounting supplies of feed wheat in the world?.