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November 17, 2017 | Global Ag News Highlights

USDA Agency Reports

Wheat prices overnight are up roughly 2 cents for the Winters, and 1 for Spring; Corn is up 1 cent; Soybeans up 3; Soymeal up $1.00, and; Soyoil up 10 points. 

For the week, Winter Wheat prices are down roughly 9 cents for SRW, down 13 in the HRW, and down 13 for HRS; Corn is down 7 cents; Soybeans down 13; Soymeal down $4.00, and; Soyoil down 30 points (one bright spot, March crushing margins are up 1 cent around 94). 

Chinese Ag futures (January) were down 4 yuan in Soybeans, down 9 for Corn, up 5 in Soymeal, down 2 in Soyoil, and up 4 in Palm Oil. The Malaysian Palm Oil market was down 21 ringgit at 2,717, basis February, on soyoil losses. 

The South American weather forecast still has no major changes as things are seen quiet through the weekend in Argentina; the 6-10 day forecast also has limited rainfall for Argentina with some moderate rainfall possibly seen in the west----rains will be moving through southern Brazil through Saturday bringing moderate to heavy amounts------active rainfall is also seen for northern sections of Brazil------the 6-10 day forecast for Brazil continues to see good rainfall------temps are seen running below average in most areas over the next 10 days 

The player sheet had funds net even in SRW Wheat; net sold 8,000 Corn; net sold 4,000 Soybeans; net sold 2,000 lots of Soymeal, and; net sold 4,000 Soyoil--------We estimate Managed Money net short 125,000 contracts of SRW Wheat; net short 249,000 Corn; net long 28,000 contracts of Soybeans; net short 3,000 lots of Soymeal, and; net long 46,000 lots of Soyoil.  

Preliminary Open Interest saw SRW Wheat down roughly 3,700 contracts; HRW Wheat down 60; Corn up 16,100; Soybeans up 7,000 contracts; Soymeal down 265 lots, and; Soyoil up 1,100 lots. 

TODAY----WEEKLY COMMITMENT OF TRADERS REPORT---MONTHLY USDA CATTLE ON FEED REPORT

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