Grain

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Morning Market Insight

Morning Market Insight

August 1, 2014
Drew Johnson
Grain Marketing Specialist

Whether forecasts showing precipitation chances being pushed back farther into next week. Temps to remain below normal.

Corn
As of 8:00am 1 - 2 lower.

Corn exports yesterday came in at 43 million bushels for new crop sales. Old crop sales came in at just under 7 million. No real weather threats to speak of. Corn is past any real danger baring early frost, but it’s too early to talk about that now. We will see corn just hang around here until the August monthly Crop Report.

Soybeans
As of 8:00am 10 lower

Soybeans exports were better than expected yesterday coming in at 46 million bushels for new crop sales and 7 million in old crop sales. Pressure remains on them today as forecasts promote the idea of good pod filling weather.

Wheat
As of 8:00am 5 – 7 higher

Exports come in at 29.4 million bushels for the week, with Nigeria, Panama and Brazil the big buyers. Thoughts are that export business will pick up with such low prices. Chicago at 4 year lows, KC at 5 month lows. Trade will be watching what overseas crops do, and how the US SW crop will turn out.
 

The information contained above was taken from sources which Wheat Growers believe to be reliable, but is not guaranteed by Wheat Growers as to accuracy or completeness and is made available for information purposes only. There is a risk of loss when trading commodity futures and options.