"Prices were $.01-$.02 lower while spreads firmed into the close. Dec-26 has support below the market at $4.88 with resistance at this week’s high at $5.09 ¾. Open interest jumped by nearly 10k contracts yesterday after speculative traders sold nearly 13k contracts. The Reuters poll shows analysts expect U.S. production will slip roughly 80 mil. bu. to 15.721 bil. bu. with stocks at 1.670 bil., very much in line with our estimates of production at 15.710 bil. and stocks at 1.695 bil. Export sales at 30 mil. bu. were at the low end of expectations. YTD commitments are down 34% from YA vs. the USDA forecast of down 4%. Commitments represent 23.5% of the USDA est. vs. the historical average of 32.5%. Despite the slow pace to date, I do not look for the USDA to make any changes this month with demand potential to China and the presence of Super El Nino.It’s been 16 years since we’ve seen a production change of more than 200 mil. bu. in the October USDA report. Production was down nearly 500 mil. bu. in 2010, while up just over 650 mil. in 2004," noted Mark Soderberg with ADM Investor Services.