HIGHLIGHTS
· MARKET TREND: Mixed --CZ: Up $.0150; SX: Up $.02; WZ: Down $.0150; KWZ: Down $.0050
· MACRO: Markets are struggling to shake the recent losing streak; Fed leaves rates steady, December increase a possibiity. ASIA: Mixed: Nikkei, closed; Shanghai, +0.84%; Hang Seng, -0.56%. EUROPE: Mixed: FTSE, -0.40%; DAX, 0.00%; CAC, +0.38%. WALL STREET: Futures are mostly lower --DOW, +13; S&P, -0.50; NASDAQ, -12.50. EXTERNALS: $ Index, -.174 @ 97.24; Gold, -$14.80 @ $1,293.30; Dec Crude, +$0.37 @ $45.71. Deliveries: 190 SB, 0 ethanol
· Weather: Mostly dry weather is forecast for the U.S. western Corn Belt today, while light showers with locally heavier amounts are projected for the eastern Belt. Dry conditions are forecast for the entire Corn Belt on Friday. Temperatures average above to well above normal today and tomorrow for the western Belt, while cooler readings—but still above normal—are likely to eastern areas. Mostly dry conditions with above to well above normal temperatures are forecast for the entire Belt this weekend
· Corn: CZ Up $.0150 @ $3.4775; CH Up $.0125 @ $3.5675. The funds sold 6 K yesterday
· SB: SX Up $.02 @ $9.7875; SF Up $.0250 @ $9.89. Funds: sold 5 SB; 4 SBM; bot 1 SBO. Jan crush, $.73, -$.02; LY: $0.94
· Wheat: WZ Down $.0150 @ $4.1625; WH Down $.0125 @ $4.3325. The funds bought 4 K Wednesday
CORN/SORGHUM
·   Export Sales to be released at 7:30 AM CDT. Trade expects 28-39 for 16/17 corn
· Full-season corn planting in northern and eastern areas of Parana, Brazil may delayed today by lingering showers
· ATI Research: On average, an additional 10% of U.S. sorghum harvested Oct. 30-Nov. 6; would boost `16 total to 86%
· Consultant: There were heavy rains last week in parts of Argentina including western Buenos Aires, northern La Pampa and southern Cordoba. Some corn probably was flooded out and will need to be replanted, especially in north
· Ethanol grind: 1,022,000 barrels/day for week end Oct. 28—up 3.1% vs. last week and 5.5% higher vs. last year
SOYBEANS/WHEAT
· Export Sales report. Trade expects 46-59 mbu for 16/17 soybeans; soymeal, 100-300 K MT; soyoil, 8-30
· Consultant: Some concern has accompanied the rapid soybean planting pace the state of Mato Grosso, Brazil. At the current planting rate, approx. 25% of state’s crop will be harvested in January—usually the peak of the rainy season
· T-storm Weather: Soybean planting in Mato Grosso, Brazil may be slowed today by scattered light to moderate rain
· Export Sales report. Trade expects 15-22 mbu for 16/17 all wheat
· Mostly dry weather forecast for U.S. HRW wheat in the Central/Southern Plains today & Fri. Scattered light to moderate rain occurs Sat.-Mon. for west and North Texas and southern Oklahoma, including the Texas Panhandle
ENERGY
· Higher: CLZ16, +$.37 @ $45.71; EBF, +$.38; EBFZ-CLZ, $1.52, $0.00; RBZ, +$.0109; NGZ, -$.019; HOZ, +$.0062
· A weaker trend was evident in cash ethanol markets on Wednesday: Chicago down 3 7/8; New York off 5 ¼; Gulf slid 3 ¾; Tampa eased 1 ¼; Dallas declined 1 ¼; and LA was 2 lower at $1.78 per gallon
· Ethanol RINs weaker: 2014’s, 2015’s and 2016’s all decreased 2 5/8 to 89-90 ¾
· The Dec RBOB/Nov ethanol inverse increased $.0162 to -0.16710/gallon at mid-week
LIVESTOCK/POULTRY   ;
· Choice boxed beef increased $1.91 on Wednesday to $187.44, is up $5.13 vs. a week ago & highest since Sep. 29
· There was no cash cattle trading of significance on Wednesday; asking prices in the South were $108 to $110
· USDA mandatory pork carcass cutout declined $2.37 on Wed. to $71.53, and is 82-cents lower compared to last week
· CME Lean Hog Index firmed $0.23 Wed. to $51.28. December futures gained $1.375 but are $3.455 below the index
Sources: Bloomberg, Dow Jones, AP, DTN