Ethanol grind of 108.62 mbu was just shy of LW’s grind of 108.72 mbu and better than LY’s 107.30 mbu Many in the trade are expecting the grind to slow down any day now as ethanol margins are in the dumps and hearing reports that quite a few plants are slowing down GREEN PLAINS ANNOUNCES PERMANENT CLOSURE OF HOPEWELL, VA. ETHANOL FACILITY – Reuters
Basis continues to firm across the WCB
Soybeans: SF19 +1.00¢, SH19 +1.25¢, SK19 +1.25¢
Informa released their acreage estimate for soybeans at 83.5 million acres
Down 807,000 from last month and -5.7 million acres from last year
The market was strong up until just before 11:00
Big volume spike during the drop
Tomorrow’s COT report will be interesting
It’s as of Tuesday, so yesterday’s and today’s action won’t be part of the report
How much of the fund short position was liquidated during this and last session?
We won’t know that answer until Monday, 11/26 due to the Thanksgiving holiday next week
That is a lot of trading to take place without knowing their position
Wheat: KWZ18 -.25¢ MWZ18 +1.00¢
KWZ18 futures making new lows for the move this morning and flirting with the contract low for KWZ18 at $4.7825 printed back on 12/12/2017.
This morning Informa released latest U.S. winter wheat acres for 2018/19 at 33.1 mln ac, down 807k from last month
Snow and mixed precipitation expected Friday in the Canadian Prairies, Northern Plains and northern Midwest. Dry elsewhere. » More DTN Weather Commentary
Energy Information Administration data once again detailed higher domestic ethanol stocks, posting the second consecutive gain to reach a three-week high while production edged off fractionally from a nine-week high.
