The HRW CCI rating is still 9.0 points below the five-year average for mid-November, while the SRW rating is 4.9 points above average.
Soybean inspections were still in the middle of pre-report expectations at more than 2 MMT, while corn and wheat shipments topped expectations.
Soybeans are mildly higher with corn futures lower and wheat futures mixed to start the week. Livestock futures are under slight pressure.
The strength in soymeal failed to trigger overnight buying in soybean or corn futures.
Export sales for all three were within expectations, with corn sales of nearly 1.1 MMT and soybean sales of almost 1.3 MMT.
Two-sided price action was seen in corn and wheat futures overnight, while soybeans were firmer for much of the session, but all three are weaker this morning.
Oklahoma saw the most drought improvement, with coverage in the state declining five percentage points over the past week.
Ethanol prices surge above $3, more than double last year’s level.
Government offices are closed for the federal Veterans Day holiday. Markets are open.
Soybean basis firmed 6 1/4 cents over the past week to a penny above January futures.

Brian Grete