December 18, 2018 | Global Ag News Highlights
USDA Agency Reports
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Grains are mixed. SF is up 2 cents and near 9.07. CH is unchanged and near 3.84. WH is down 2 cents and near 5.32. US Dollar is lower. Crude is lower.
Chinese soybean meal advanced for the first time in three days as President Xi Jinping said the nationwould stick to its policy agenda, despite pressure from outside the country to allow more competition, potentially damping hopes of significant reforms to resolve the trade conflict with the U.S.
For the week so far wheat prices are up 2 1/4 in SRW, up 1/2 in HRW, down 1 1/2 in HRS; Corn is down 1/2; Soybeans up 6 1/2; Soymeal up $0.20; Soyoil down 0.14. For the month to date wheat prices are up 16 3/4 in SRW, up 18 1/2 in HRW, up 6 3/4 in HRS; Corn is up 6 1/2; Soybeans up 12 3/4; Soymeal up $0.04; Soyoil up 0.32.
The Trump administration said Monday it has approved a second round of payments in its bailout program for farmers hurt by the ongoing trade war with China. The Agriculture Department announced it will spend billions more through 2019 on direct cash aid to producers of soybeans, cotton, corn and several other commodities.
NOPA Crush showed November crush was 166.959 million bushels of soybeans and above the 163.546 million bushels crushed in November 2017. It was the largest November crush on record. November soyoil yield was higher than expected.
Funds were net buyers of 4,000 soybeans, 2,000 soymeal and 3,000 wheat and sold 3,000 soyoil and 3,000 corn on Monday. Funds are est to be net short 13,000 soybeans, 52,000 soyoil, short 7,000 soymeal, long 99,000 corn and short 23,000 wheat.
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