-Canadian National Railway workers go on strike
-South American rain forecasts remain favorable
-USDA reports modest corn sale to unknown
-U.S. corn/soybean harvest nearing completion in most locations, but huge northern delays continue
-Winter wheat conditions decline again
 Canadian National Railway workers went on strike overnight after last-minute/late night talks failed to reach an agreement. CN workers authorized a strike in September pending labor negotiations. With CN being the country’s largest railroad operator, the market will be paying close attention to the impact on Canadian wheat/canola exports depending on the longevity of the strike. U.S. ethanol rail movement could be impacted, as well.
ï‚· USDA reported the sale of 191k tonnes of corn to unknown for 2019/20 delivery this morning.
ï‚· Tunisia bought 75k tonnes of soft wheat (tendered for up to 92k tonnes), along with 100k tonnes durum and 50k tonnes feed barley in their latest tender. Soft wheat prices ranged from $227.72-228.70/tonne c&f and was for Dec-Jan shipment.
ï‚· South Korean feedmills bought a total of 179k tonnes of soybean meal overnight, priced from $360.60-$363.20/tonne c&f for March-April shipment periods, expected to be South American origin. 65k tonnes of optional-origin corn (likely South American) was also bought at $204.79/tonne c&f for mid-March arrival.
ï‚· U.S. corn harvest advanced to 76% complete last week from 66% a week prior and was in line with average expectations of 77%. Minimal progress was made in North Dakota with just 23% of the crop now harvested vs 15% last week and 85% average, while SD is 53% (39% last week/91% avg) and WI 44% (30% last week/77% avg). MN continues to move along, though, at 77% complete vs 63% last week and 94% avg. Modest delays of 10-17% behind average remain from IA east through OH.
ï‚· U.S. soybean harvest is now 91% complete, in line with expectations, and up from 85% the previous week and 95% avg. The only delays of note remaining are in ND at 84% vs 98% avg, WI 77% vs 95% avg and MI 76% vs 91% avg. All other major state harvests are within 5-6% of their respective averages.
 Winter wheat conditions declined again last week, falling 2% in good/excellent to 52%, while a 1% decline was expected, with conditions now modestly below last year’s 56% g/e at this time. HRW conditions continue to take a hit with OK down 11% g/e last week, TX down 6%, KS down 4% and CO down 7%. SRW conditions improved slightly with IL, IN and OH all up 2-3% g/e. Overall winter wheat conditions are the lowest for mid-November in 7 years, although little correlation exists between fall crop conditions and yields for winter wheat, so spring weather will be much more important for new crop production prospects.
Weather Brazilian growing regions look to see rains of 1-2†fall in most of Mato Grosso, Goias, Minas Gerais and northern Sao Paulo in the next 5 days, with little in the way of rainfall elsewhere. The 6-10 day sees rains of 1-2†to fall across all areas. Argentine growing regions look to see rains of .50-1â€+ fall across all but Corrientes with a front that will work through on Thursday. The 6-10 day indicates rains of 1-2†to fall in all areas with another front by Monday and Tuesday. Temps will be running near average in most of the South American growing regions in the next 10 days. Late Wednesday into Thursday, .40-1â€+ rains are expected across IA, SE MN, most of WI and the northern 1/3 of IL. Similar totals will also occur in far southern sections of MO, IL, IN and OH. Totals elsewhere will run in the .40†range or less. Dry conditions return from Friday through early next week. The next rains are expected Wed/Thur next week with the GFS calling for .50-1.5†for all of the region, while the European model indicates slightly lower totals of .40-1â€+ to fall to the east of a line from around the NW corner of MO to Green Bay.