HIGHLIGHTS

• MARKET TREND—Mostly lower: CZ, -$.01; SF, +$.0425; WZ, -$.0275; KWZ, -$.0150 
• MACRO:  A sell-off in technology pulled the DOW 600 points lower yesterday and early indictions suggest a similar impact today in Asia as well as Europe.  Asia: Mixed --Nikkei, -2.06%; Shanghai, +0.94%; Hang Seng, +0.-3%.  EUROPE: Not defined--DAX, NA; FTSE, -0.74%; CAC, NA%.  WALL STREET: Futures are higher: DOW, +98; S&P, +11.75; NAS,+27.50.  EXTERNALS: Dec crude: -$0.78 @ $59.15; Dec Gold: +$0.30 @ $1,203; Dec $ Index, +0.008 @ 97.390.

·      Weather: Another round of precipitation will occur Friday into Saturday for Argentina.  Brazil saw welcome rain across parts of the country this weekend but many areas were left dry, including western Mato Grosso through Paraguay and Parana to Rio Grande do Sul. Southern Brazil should receive precipitation today through Friday. Center west and northern growing areas will see daily rounds of rain.

·      CZ, dn $.01 @ $3.7025; CH, dn $.0075 @ $3.8150.  Funds buy 4 K to open the week 

• SF, up $.0425 @ $8.8750; SH, up $.0425 @ $9.01  Funds sold 1 K SB, 1 K SBM, bot 1 SBO.  Board Crush: $1.00, +5, LY: $.95
• WZ, dn $.0275 @ $5.17; WH, dn $.0275 @ $5.2375.  The funds began the week trading buying 7 K     

  CORN/SORGHUM

·      Corn Export Inspections—33-45 expected versus 49.4 LW

·      Milo Export Inspections—1/2 to 1 expected

·      December corn closed  up 1 ½ yesterday, and was unchanged from last Monday’s close

·      Corn harvest progress delayed until Tuesday due to Veteran’s Day.  Estimated at 85% this week, up from 76% LW and versus 81% LY and 87%

SOYBEANS/WHEAT

·      Soybean Export Inspections—37-48 expected and versus 45.2 LW

·      Wheat Export Inspections—11-16 expected, versus 12.0 LW

·      January soybeans fell 3 ½  cents on Monday to $8.83 ¼ and are down 4 ½ cents from last Monday’s close

·      Soybeans are expected to be 89% harvested as of Sunday, up 6 points in the past week and compared to 93% LW and 94%

·      LY Winter wheat ratings are expected to deteriorate one point to 50%, 4 points under both LY and the average.  Planting progress is likely to be around 88%, trailing LY & the average by 6 points

·      December Chicago wheat gained 17 ¾ cents on Monday to $5.19 ¾, and is up 12 ½ cents in the past week; Kansas City December futures closed up 6 cents at $4.93 ½, but are down 9 ¾ cents from a week ago

ENERGY

·      Lower: CLZ18, -$0.78 @ $59.15; EBF, -$0.69 @ $69.43; EBF-QCLF,+$0.156; RBZ, -0.0172; NGZ, +.156; HOZ, -.0114

·      Chicago ethanol steady @ $1.23375; basis levels vs Chicago, steady/firm—New York, unch @ $.12875; Gulf, +.0050 @ $.14125; Dallas, +.0250 @ $.09125; Tampa, +.0050 @ $.20125 and LA, inch @ $.14125     

·      Ethanol RINs were lower: 2017’s, -1/8 @ 6 -6 ¾; 2018’s, -1/2 @ 7 ¼ -7 ½; 2019’s, -1/2 @ 11 ¼-11 ½                    

·  &nbs​p;   The Dec RBOB/Dec ethanol spread weakened, off $.01130 on Monday to+$.37770 per gallon

LIVESTOCK/POULTRY                    &nbs​p;                  

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• Choice boxed beef increased 46-cents on Monday to $215.66 and is down   $2.93 from last week
• 5-Area Weekly Weighted Average Steer price down $1.18 v. last week at $113.97/cwt
• USDA mandatory pork carcass cutout value gained $2.00 on Monday to $72.27 and is $7.38 lower vs. a week ago

Source: Bloomberg, Dow Jones, AP, DTN, T-storm- Weather