CORN/SORGHUM    
· Outstanding U.S. corn export sales as of Nov. 27: 531 mbu vs. 705 mil last year and the 5-year avg. of 474 mil
· Outstanding U.S. sorghum export sales as of Nov. 27: 114 mbu vs. 57 mil last year and the 5-year avg. of 28 mil
· Year-to-date U.S. sorghum export sales to China are 151 mbu compared to 32 million last year
· T-storm Weather: Drying is needed for corn planting in Argentina since 3.00”-5.00” of rain occurred over the last two weeks, though amounts over the last 30 days were only near-average due to a period of dryness earlier this month
SOYBEANS/WHEAT
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Outstanding U.S. soybean export sales as of Nov. 27: 710 mbu vs. 746 mil last year and the 5-year avg. of 559 mil
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T-storm Weather: Parts of Center-West and South Brazil soybean production areas would benefit from drying
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ATI Research: Impressive that unshipped soymeal export sales to Southeast Asia—Indonesia, the Philippines, Thailand & Vietnam—are double last year. Growth in protein demand in this market has rivaled that of China in recent years
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Outstanding U.S. wheat export sales as of Nov. 27: 180 mbu vs. 194 mil last year and the 5-year avg. of 199 mil
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T-storm Weather: Only 29% of U.S. SRW wheat production was drier than usual over the last 60 days
ENERGY
· Futures are mostly weaker: QCLF14, -$0.62 at $66.20; QRBF, -$0.0169; QNGF, +$.076; and QHOF, -$.0163
· A firmer trend continued in cash ethanol markets on Thursday: Chicago added 1 ¼; Gulf up 1; Dallas gained 8; Tampa climbed 6 ½; New York tacked on 7; and LA was 6 higher at $2.54 per gallon
· RINs were slightly lower: 2013’s down ¾ at 58 ½-59; 2014’s off 5/8 to 59 ¼-59 ½; and 2015’s dipped 3/8 to 59 ¼-59 ½
· January RBOB/January ethanol spread is now at a $.0238 premium favoring the former
LIVESTOCK/POULTRY    
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Choice boxed beef values declined $1.99 on Thursday to $254.42 and are at the lowest level since Nov. 18
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December live cattle futures closed at $166.45 on Thursday—the lowest settlement price for the contract since Nov. 6
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USDA pork carcass cutout value increased 57-cents on Thursday after reaching the lowest level since Feb. 10 on Wed.
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CME Lean Hog Index up $0.08 at $88.72. December futures down $0.425 to $87.625 & are $1.095 below the index
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Broiler egg set last week was up 3.0% from last year and average set over the last four weeks is 2.9% above last year
Sources: Bloomberg, Dow Jones, AP, T-storm Weather
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