-Argentine soybean area ideas ticked higher/corn lower
-Chinese sow herd marginally increases for first time since April 2018
-Good South American rains forecast
-No USDA sales announcements
-China invites U.S. officials for trade talks – U.S. seeks assurances
 The Buenos Aires Grains Exchange slightly raised their estimate of this year’s Argentine soybean planted area to 17.7 million hectares (43.7 mil acres) from 17.6 mil hectares previously, which they cite as being unchanged from last year. The USDA’s current 17.5 mil hectare area estimate, though, is reflected as being up solidly from last year’s 16.6 mil hectares (41.0 mil acres) according to USDA numbers. The Exchange, similarly, lowered their estimate of Argentine commercial corn area to 6.3 million hectares (15.6 mil acres) from 6.4 mil hectares previously and is also reflected as being unchanged from last year. USDA us currently estimating Argentine corn area unchanged from last year, as well. Following the election results, there has been a shifting of planted area ideas from corn to soybeans amid the uncertainty of the incoming president’s ag policy. The new president takes office on December 10.
ï‚· The Buenos Aires Grains Exchange estimated Argentine corn planting is 46% complete, with soybean planting 31% complete. Corn and soybean planting progress, for the most part, is in line with average levels so far.
 China reported their breeding sow inventory rose 0.6% in October from the previous month, the first increase since April 2018. Additionally, while the update did not provide specific numbers, it was also stated the decline in the country’s total pig herd was slowing. Broiler chicken production in October was up nearly 16% from last year, while 2019 total poultry output is seen rising 3 MMT from last year.
 French soft winter wheat conditions, of the newly planted crop, declined sharply last week to 78% good/excellent from 84% a week prior and compares to last year’s 82% g/e at the same time as recent heavy rains negatively impact the crop. Soft wheat planting is 74% complete vs 71% the previous week and 97% a year ago. Corn harvest remains slow given the recent rains with 88% complete vs 84% last week, while last year’s harvest was complete by now.
ï‚· The Wall Street Journal reported China has invited U.S. trade officials to Beijing for new face-to-face trade talks, desiring them to take place before Thanksgiving. However, U.S. officials have not committed to a date and said they welcome face-to-face talks but would like assurances China was ready to commit to some of the more difficult topics on intellectual property protection and forced technology transfers, as well as on specific ag purchase amounts prior to travelling for talks. Chinese President Xi, in his first public comments on a potential Phase One trade deal said, “We want to work for a phase one agreement on the basis of mutual respect and equality.†“When necessary, we will fight back but we have been working actively to try not to have a trade war.â€
ï‚· There were no USDA sales announcements this morning.
Weather Brazilian growing regions will see rains of 1-2†fall in most areas in the next 5 days. The 6-10 day also sees rains of 1-2†to fall across most areas. Argentine growing regions look quiet through the weekend with widespread rains expected Monday-Tuesday of .50-1â€+ to all areas. The rest of the next week then looks quiet. Temps will be running near average in most of the South American growing regions in the next 10 days.