Grain markets are mixed as traders deal with weather concerns across the globe, add that to constrained enthusiasm for a trade deal between the US and China over a new deal that may or may not happen after the recent G20 headlines. Brazilian farmers are expected to plant more than 18 million hectares of corn this coming season (3.5% higher than last year and a record area planted), according to Reuters. Total corn crop forecast seen at 101 million tonnes (102.3 million tonnes last month). There are 2.47105 acres in a hectare. Pork, by far the most popular meat in China, has pork supplies declining sharply causing food inflation to run at its highest level in eight years and has surprised both seasoned economists and restaurateurs. "In the past year, both we and the market underestimated the pace of pork price inflation," said Lu Ting, analyst at Japanese bank, Nomura. Egypt's state grain buyer GASC said it bought 295,000 tonnes of Russian wheat at its latest international purchasing tender. Live cattle futures are suggesting last week's $118 cash cattle trade will not move much for the rest of the month. Market moving news regarding cattle this month could remain quiet.
Market Comments for December 4, 2019
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