Grains continued to grind lower overnight and the US dollar hit new heights bolting higher by 1.3%.
USDA announced a 132,000 MT sale of soybeans to China this morning.
Weather models continue to point to favorable rain potential in Argentina starting this weekend. The market is gaining confidence as the forecasts
have held up and the rain event is now days away instead of a week out.
NOPA Nov crush will be announced this morning with expectations of 162 MB vs 164.6 in Oct and 156.1 last year. This is a slight increase in daily crush rate over October but could be the largest daily crush for the year.
South Korean state agency Agro-Fisheries & Food Trade Corp. has issued an international tender to purchase some 90,000 tonnes of GMO-free soybeans free of genetically-modified organisms (GMOs), European traders said on Thursday. The soybeans are sought in three consignments of 30,000 tonnes from optional origins for 2018 arrival. Japan's Ministry of Agriculture bought a total of 122,847 tonnes of food quality wheat from the United States and Canada in a regular tender that closed late on Thursday.
Weekly Export Sales-
Actual Expected
Corn 1,516 800-1,100
Soybeans 2,008 1,100-1,500
Wheat 531 300-500
The U.S. Federal Reserve raised interest rates by a quarter point on Wednesday and signaled a faster pace of increases in 2017 as the Trump administration takes over with promises to boost growth through tax cuts, spending and deregulation.
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