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🌿 Lee Zeldin Nominated for EPA Head
President-Elect Trump's choice to lead the EPA has sparked controversy. Lee Zeldin, former New York congressman, will focus on deregulation to boost American business and energy dominance. Critics, including environmental groups, argue that Zeldin is unqualified and will harm environmental policies, especially concerning biofuels. His nomination will require Senate confirmation.

📉 ADM Faces Financial Reporting Delays
ADM (Archer Daniels Midland) has requested more time to file its third-quarter financial report after accounting errors were discovered. This follows a previous delay earlier this year, marking a rough period for the company, which has seen its stock fall by 29% year-to-date. These errors have affected financial data spanning six years.

🌾 Russia's Grain Production Forecast Includes Occupied Ukrainian Land
Russia's agriculture ministry forecasts a 130 million metric ton (mmt) grain harvest for 2024, a 12% drop from 2023. This includes grain from Ukrainian regions under Russian control. There are concerns that these figures may not reflect the true harvest numbers, as Russia allegedly includes Ukrainian data in a bid to hide its losses from the ongoing conflict.

🌾 US Winter Wheat Conditions Improve
US winter wheat conditions improved due to recent rainfall. As of Sunday, 44% of the crop was rated good to excellent, up from 41% the prior week. Kansas saw the biggest improvement in conditions, along with Oklahoma, Texas, and Nebraska. The crop is 91% planted, near the average of 93%.

🌱 US Row Crop Harvest Nears Completion
The US corn harvest reached 95% completion, the fastest pace since 2005, while soybeans were 96% harvested. North Carolina and Colorado are the only states running below-average harvest pace. Meanwhile, Louisiana, Minnesota, North Dakota, and South Dakota have completed their harvests.

📦 US Exports: Soybean Shipments Decline Slightly
Soybean exports were slightly down last week at 2.3mmt, but still up by 13% compared to the same week last year. Corn shipments also saw a slight decline but were up by 10% versus the same week last year. Wheat shipments were stronger, increasing by 69% from the prior week.

📈 Flash Sales for US Corn
US corn export sales continue to perform well, with a flash sale of 110,500mt (4 million bushels) to Mexico for delivery during the 2024/2025 marketing year. Corn sales are up 48% compared to last year, reflecting strong international demand.