-HRW/SRW wheat conditions improve – white wheat remains the problem
-U.S. corn/soybean harvests near completion
-USDA reports routine soybean/corn sales
 Yesterday afternoon’s USDA Crop Progress update showed the U.S. corn crop harvest 91% complete vs 84% a week earlier and 86% average, with western belt states remaining solidly ahead of average and 90-97% complete, while eastern belt states are in line with average with IN 85% and OH 78% complete. Soybean harvest is 92% complete nationwide vs 87% the previous week and 93% average. The western belt is essentially complete, while IL is 93% vs 96% avg, IN 88% vs 93% avg and OH 88% vs 92% avg.
ï‚· U.S. winter wheat planting is 94% complete, in line with average, with HRW and white wheat planting essentially completely, while SRW planting continues to drag along into the final stretches. IL is now 86% planted vs 96% average, IN 92% vs 94% avg and OH 92% vs 98% average.
 Winter wheat crop conditions ticked higher by 1% in good/excellent last week to 46% g/e and are the same as conditions at this time last year. The weighted composite condition index is marginally below last year, though, given a slightly higher amount of very poor ratings than a year ago. Over the last week, HRW conditions improved on a widespread basis with NE up 5% g/e, KS and OK up 2%, TX up 1% and CO up 6%. IL SRW conditions improved 7% g/e last week, while IN was down 1% and OH unchanged. The true problem for winter wheat conditions remains with the white wheat crop in the PNW with historically poor conditions remaining heading into the winter. Next week’s USDA update will be the last of the year until they resume in early April.
 For full details of yesterday’s USDA Crop Progress update, please see our post at
https://portal.rjobrien.com/MarketInsights/Blog/Read/45798.
ï‚· USDA reported the sale of 161k tonnes of soybeans to unknown and 270k tonnes of corn to Mexico this morning, both for 2021/22 delivery.
 A German oilseeds association expects the country’s rapeseed area for the 2022/23 crop to have increased by 4-9% given the continued high prices. Weather this fall has been favorable with crop conditions said to be generally good.
ï‚· South Korea bought 68k tonnes of likely South American corn, priced at $318.50/tonne c&f for Dec shipment. However, they passed on their tender for 65k tonnes of feed wheat for January arrival citing the offer prices of $395-%$399/tonne c&f being too high. Philippines tendered for 220k tonnes of feed wheat for Jan-Apr shipment periods, with offers due by tomorrow.
 India’s 2020/21 (Nov-Oct) palm oil imports totaled 8.32 MMT, up solidly from the previous year’s 13.52 MMT, while soybean oil imports declined to 2.87 MMT from roughly 3.4 MMT the previous year and sunflower oil imports feel sharply to 1.9 MMT from 2.5 MMT a year earlier. Total vegoil imports for 2020/21 of 13.53 MMT were effectively unchanged from 13.52 MMT in 2019/20. A slight overall decline in vegoil imports in 2021/22 is seen possible according to the Solvent Extractors’ Association of India, with ideas a bit of a shift from palm oil to soy and sun oils could be seen if palm oil prices remain historically high.
ï‚· Germany reported another case of African swine fever was identified in a commercial farm in the eastern part of the country in a state previously untouched by ASF but adjacent to others that have had cases. The findings of ASF have led to import restrictions of German pork by many countries.
 Yesterday afternoon’s holiday-delayed CFTC COT data, for the week ended 11/09/21, showed the largest net fund activity in the soy complex, being net sellers of 30.5k contracts in soybeans, reducing their net long to only 12k contracts, while also being net sellers of 16.1k SBO (net long 73k), but net buyers of 15.6k SBM, moving back to a small net long of 9k contracts. Funds were small net sellers in corn of 5.0k contracts (net long 320k), as well as 2.6k CBOT wheat (net long 3k) and 0.9k MPLS wheat (net long 16k). Funds were essentially net even in KCBT wheat for the week, maintaining a net long of 57k contracts.