• The USDA has today released its weekly export figures as detailed below:

Wheat: 550,500 mt, which is above estimates of 350,000-550,000 mt.
Corn: 708,800 mt, which is above estimates of 300,000-500,000 mt.
Soybeans: 2,156,000 mt, which is above estimates of 1,600,000-2,000,000 mt.
Soybean Meal: 218,700 mt, which is within estimates of 150,000-350,000 mt.
Soybean Oil: 82,100 mt, which is above estimates of 30,000-60,000 mt.

• Brussels has issued another relatively low week of wheat export certificates of 399,095 376,969 mt. This brings the season total to 7,572,830 mt, which is 2,028,631 mt (21.13%) behind last year.

• Chicago markets have today seen the grains gain and soybeans ease a touch in a continuation of what feels like confused price action.

• The International Grains Council (IGC) has again raised its forecast for global coarse grain harvests (fourth consecutive month) to 1.999 billion mt, a 3 million mt increase, but 27 million mt lower than the previous year. Global demand was raised a touch, by 5 million mt, to 1.991 billion mt.

• Egypt’s GASC has once again purchased wheat in their latest tender, this time for 1-10 December shipment. They secured 240,000 mt with 120,000 mt for France, and 60,000 mt each from Romania and Poland (a first this season) at an average price of $208.78/mt basis C&F, close to $3.50/mt below 15 October’s purchase.