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US Dollar Drifts Lower

Grains Were Closed Overnight

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Grains were closed overnight but will reopen for trade at 8:30 am CDT. In outside markets, the USD drifted lower while crude oil was off in early trade and equities were higher.

Lower output of palm oil into early next year and tight supplies of rival soybean oil are likely to bolster prices for the tropical product in the short term after they hit a four-year high this week. Higher mandates for biodiesel production in the United States and Indonesia will further squeeze inventories of palm oil, used in products ranging from candy to cosmetics and cooking oil. Palm oil futures rallied 1% overnight and is up 5.7% on the week.

Russia's food safety watchdog said on Thursday it would have to introduce a quarantine that could hit agricultural exports if there were more outbreaks of African Swine Fever (ASF) at pork breeding facilities in the southern Krasnodar region. The watchdog said on its website a quarantine could affect, for example, grain exports. Analysts said this would be due to concerns ASF - a highly contagious hemorrhagic fever among pigs - could be transmitted via animal feed.

The dollar retreated against its major currency peers on Friday, a pullback in U.S. bond yields spurring some profit-taking as it headed for its best run in almost two years. Expectations of rises in U.S. inflation and interest rates have driven the greenback to a more than 6 percent gain over October and November, its strongest showing over a similar period since early 2015.

WEEKLY EXPORT SALES

Actual Expected

Corn 1,668 900-1,200

Soybeans 1,898 1,200-1,500

Wheat 712 350-550



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