Name: Farmers Cooperative
Address: 208 West Depot Street, Dorchester, NE, 68343
Price range: $$

Morning Comments (RJ O'Brien)

At 8AM, the USDA announced the sale of 150K tons of 24/25 corn to Colombia.
EXCLUSIVE-China's state importer books US soy purchases as tariff threat looms - Reuters News…full article attached.
China imported 3.94 mmt of soybeans from Brazil, 2.79 mmt of soybeans from the US and 0.42 mmt of soybeans from other destinations in November. The total 7.15 mmt of imports were the smallest of any November since 2018. Chart below.
Malaysian palm oil futures fell for the second consecutive week, dropping 1.6% on Friday to be down 9.6% on the week. Exports of Malaysian palm oil products fell 7.6% from Dec. 1-20 compared to Nov 1-20.
Russia has reduced its wheat export quota for the second half of the 2024/25 season to 10.6 million metric tons, a 62% cut from the previous season, to improve domestic supply and combat inflation. It was also lower than a private export group had said it would be last month (11 mmt).
South Korea’s Korea Feed Association (KFA) rejected all offers in a tender to buy up to 69,000 metric tons of animal feed corn with the lowest offer being $237.49 per ton.
COFCO International announced a $600 million revolving credit facility with OCBC bank, linked to emissions reduction targets for soy and corn purchases. They will receive interest discounts if they achieve deforestation and land conversion targets.
U.S. wholesale egg prices have surged 150% from a year ago due to a bird flu outbreak in laying hens, leading to record prices and potential further increases.