-EIA data could show new record weekly ethanol production
-No USDA sales announcements
-Favorable South American weather continues
-Near record Ukraine sunoil exports expected
Grain markets were slightly lower overnight, with corn and wheat taking a minor breather from the recent strength, while soybeans continue to chop sideways, but soybean oil was modestly higher supported by another strong session in palm oil. Energy markets are under considerable pressure this morning, with nearby crude oil and RBOB down more than 2.5%.
 The EIA’s weekly ethanol data release later this morning should show continued impressive ethanol production/implied corn grind rates, with the possibility (likelihood?) of a new all-time weekly production record being set as last week’s 1.106 million barrels/day production rate fell just short of the current 1.108 mbpd record set in the week of 12/01/2017.
 Argentina’s ag ministry estimates farmers have now sold 33.1 MMT of last year’s soybean crop, up 400k tonnes for the week, with sales now reflecting 77% of total production vs sales at this time last year of 34.4 MMT (70% of production). New crop soybean sales have totaled 2.6 MMT so far, 6% of the estimated crop to come.
 Ukraine’s sunoil producers’ union expects 2021/22 total sunoil exports to rise solidly to 6.6 MMT from 5.3 MMT last year following this year’s bumper sunseed crop. These ideas are in line with USDA’s estimates, as well, and reflect near-record exports vs 2019/20’s 6.7 MMT. This year’s sunseed crop is estimated at a record 17.1 MMT by USDA, up from 14.1 MMT last year and exceeding 2019/20’s current 16.5 MMT record.
ï‚· There were no USDA sales announcements this morning.
 Brazilian ag exporter Anec’s early ideas on November trade data shows soybean shipments expected to be 1.930 MMT vs estimated October exports of 3.4 MMT and last year’s 1.436 MMT, while corn exports are estimated at 1.964 MMT vs 2.1 MMT estimated in October and 4.728 MMT last year.
ï‚· November soybean deliveries declined to only 10 contracts today, put out by Dreyfus and CHS, while being stopped by Bunge. The last trade date held at 10/28/21.
ï‚· South American weather remains favorable with rains expected to continue through the 14-day outlook period.