Corn: 1 to 2 lower
Beans: 1 to 3 lower
Yesterday the USDA released a WASDE report which had little to no effect on the markets, as the U.S. corn numbers were left unchanged. The focus will continue to be on potential U.S. supply changes in the January reports, a potential U.S./China deal, and the South American weather for the next 30 days. The EIA’s weekly ethanol production report will be released this morning with predations that even with the rise in production over the last 8 weeks production will start to level off. The WADSE report also had no changes on the bean side leaving beans trading lower this morning. Rumors continue to linger about additional Chinese bean purchases, however, it currently does not seem to be moving the markets.