HIGHLIGHTS
· MARKET TREND: CH, Down $.0075; SF, Up $.0275; WH, Down $.0175; KWH, Down $.02250
· Fed uncertainty; continued weakness in oil; head of largest Chinese non-state owned conglomerate disappears. All are keeping investors side-lined. DowDupont—new entity from merger. Asia: Nikkei closes up .97% while Shanghai and the Hang Seng drop .58% and 1.11%. Mid-day Europe trade down 1.00-1.50%. Not-so-happy Friday: DOW futures off 146; S&P, down 15.50 and the NAS, 38.75 in the red. Externals: $ Index down ¼ of a point at 97.75; crude’s weaker again; gold, down $6.90 @ $1,065.40
· T-storm Weather: A series of potent systems trigger frequent thunderstorm clusters from central Argentina through much of South / Southeast Brazil and Paraguay over the next 10 days; highest totals of 3.00" to 6.00" of rain focus on wettest areas of South Brazil and Paraguay, which is around 150% to 300% of normal and will further one of the wettest November to mid-December periods on record. Isolated thunderstorms occur in Center-West Brazil through early next week, potentially followed by a seasonably-wetter pattern from aroundWednesday forward as fronts drift further to the north
· CZ, Down $.0075 @ $3.7650; CH, Down $.0075 @ $3.7850. The funds bought 6 KThursday. Del’y: 6 Corn
· SF, Up $.0225 @ $8.8050; SH, Up $.0275 @ $8.84. Funds: bought 4 K SB; 2 K SBM; sold 2 K SBO. Del’y: 112 SBO
· WZ, Up $.0525 @ $4.8975; WH, Down$.0175 @ $4.9375. The funds bought 3 K yesterday. Dely’y: 31 SRW, 0 HRW
CORN/SORGHUM   ;   </wbr>
· ATI Research: U.S. corn export sales for week end Dec. 3 of 43.1 mbu were the 2nd highest of the crop year, more than double last week’s 19.7 & 11% above prior 4-week avg. Year-to-date sales still trail last year: 715 mbu vs. 934 (-23%)
· ATI Research: U.S. sorghum export sales week end Dec. 3 were 4.1 mbu. That’s down 5% from last week and 45% below the prior 4-week average. Year-to-date sales: 183 mbu vs. 194 last year (-6%)
· December 2015 corn futures closed at $3.77 ¼ Thursday—the highest settlement price for the contract since Nov. 4
· T-storm Weather: Upcoming rain gradually increases wetness for corn in Argentina
SOYBEANS/WHEAT
· ATI Research: U.S. soybean export sales for the week ending Dec. 3 were 53.4 mbu. That’s up 66% from last week and is 13% above the prior 4-week average. Year-to-date sales still trail last year: 1.264 bbu vs. 1.487 last year (-15%)
· T-storm Weather: A cool front potentially sweeps further north around Dec. 16 to mark the start of a seasonably-wetter pattern for key soybean areas of Center-West Brazil &Bahia with more typical rain of 2.00” over Dec. 16-22
· ATI Research: U.S. export sales of all wheat for the week ending Dec. 3 were 8.3 mbu. That’s down 43% from last week and 45% below the prior 4-week average. Year-to-date sales are 540 mbu vs. 638 last year (-15%)
· March 2016 CBT wheat futures closed at $4.95 ½ Thurs.—the highest settlement price for the contract since Nov. 23
ENERGY
· Mostly lower: CLF16, -$0.53, $36.24; EBF, -$0.62; EBF-CLF, $2.88, -$.09; RBF, +$.0096; NGF, -$.028; HOF, -$.0229
· Cash ethanol markets were steady to slightly firmer on Thursday: Chicago up ¾; New York gained ½; Gulf, Dallas and Tampa added ½; and LA was steady at $1.56 ½ per gallon
· Ethanol RINs higher: 2014’s up 2 ¾ at 65 -73; 2015’s added 2 ¾ to 64 ½-72; and 2016’s increased 2 ¾ to 64 ½-72
· The Jan RBOB/Jan Ethanol inverse lost 4 ¾ cents yesterday, and is now at -$.1848/gallon
LIVESTOCK/POULTRY    
· Choice boxed beef were unchanged on Thursday but are $1.41 lower vs. last week
· Dressed steer weight for week end Nov. 28: 923 lbs, dn 2 pounds v. last week, 922.75 for 4-week avg. & 901 last year
· On Thursday, USDA mandatory pork carcass cutout increased 68-cents but is down 36-cents compared to a week ago
· CME Lean Hog Index was $0.06 lower at $56.60. December futures $0.525 lower and are $0.375 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather