Highlights
Yesterday morning, the USDA announced the sale of 124,000 mts of corn to unknown.
Dr. Michael Cordonnier left his South American corn and soybean crop estimates unchanged from last month (in million mts):
Corn: Brazil 125 (USDA 127), Argentina 48 (USDA 51)
Soybeans: Brazil 165 (USDA 169), Argentina 57 (USDA 51)
Egypt purchased 290,000 mts of wheat this week:
120,000 mts Romania
120,000 mts Ukraine
50,000 mts Bulgaria
Chinese manufacturing purchasing managers index (PMI) came in at 50.1 versus September’s 49.8. This was the first PMI above 50 following five months of declining numbers.