The monthly corn for ethanol report was a bearish surprise. USDA reported only 460 million bushels processed during October. This was minimally below last year, -0.4%. It was a bit of a surprise as the weekly ethanol production reports for October ran about +3% vs. last year.

This afternoon's monthly COF report found October feedlot placements +5.3% from last year. The trade estimate was +3.8% (ALDL +2.8%). The 2.286 million head estimate would be the largest October inflow in seven years. October inflows help determine April - September fed cattle supplies.

The weekly Actual Slaughter report detailed meat production statistics for the third week of October.

Wheat export sales came to 411,424 tonnes in sales for last week's activity. The trade estimate was 300,000 - 600,000.

This week's sale was reported at a record for this specific week, 2,273,262 tonnes.

Today's report covers activity from 10/18 - 10/24. Corn export sales this past week were great at 2,341,667 tonnes.

US corn harvest was estimated by USDA at 81% complete. The trade expected 80%. It remains far over the five year average of 64%.

Near-normal rains were noted for Brazil last week. Argentina saw double the normal rain last week.

USDA's monthly Cattle on Feed was out this afternoon. The feedlot survey found September inflows, placements, -1.9% from one year ago.

This week's sale was reported at 2,151,743 tonnes. The trade estimate was 1,200,000 - 2,400,000. Overnight reported sales in this period came to 598,8000, 28% of the total.

Weekly beef export sales came to 16,712 tonnes last week. This was -4% from one year ago. Year to date sales are +1% vs. last year. Sales are over USDA's current goal of -3%.

Wheat export sales posted a good 532,885 tonnes in sales for last week's activity. The trade estimate was 350,000 - 650,000. There was one 120,000 tonne overnight sale that applied to this week.

Today's report covers activity from 10/11 - 10/17. Corn export sales this past week were huge at 3,602,594 tonnes. This was the second largest sale in history for this specific week

This new crop year is forecast to see 5.450 billion bushels of corn for ethanol. That is -0.4% from last year. At this time, we do not have efficiency data for this new harvest.

Today's report covers activity from 10/4 - 10/10. Corn export sales this past week were huge at 2,225,716 tonnes. The trade estimate was 1,200,000 - 2,200,000.

Wheat export sales posted a good 504,112 tonnes in sales for last week's activity. The trade estimate was 250,000 - 550,000.

Grains see selling

Weekly beef export sales came to 14,501 tonnes last week. It was far over the low 425 posted last year in the same week. Year to date sales are +1% vs. last year. Sales are over USDA's current goal of -3%.

This week's sale was reported at 1,702,727 tonnes. The trade estimate was 1,000,000 - 2,200,000. Overnight reported sales in this period came to 470,500, 28% of the total.

The weekly Actual Slaughter report detailed meat production statistics for the first week of October.

Last week's ethanol production, 1.042 million barrels per day, was +0.7% from last year. The prior five weeks were also positive at +2.7%. We are ahead of USDA's goal.

US Corn, Soybean and Wheat exports to China.

For only 2 ½ months the US held the title as the cheapest soybean export bid.

The National Oilseed Processors Association, NOPA, released September soybean crush this morning. 177.320 million bushels were processed in the first month of the new marketing year. That was better than the 170.331 trade expectation.

Brazil rains last week were near normal.