October 6th , 2015
Grain Marketing Specialist
USDA Crop Production Report out at 11 A.M. Friday, speak to your nearest Grain Marketing Specialist to have your targets in and working.
Corn- UP 2 as of 7:45
Corn closed higher on the day Monday with help from the soy complex, and little fresh news.
Mondays Crop Progress Report put US corn at 27% harvested up 9% from last week, and up 11% from last year at this time. With the WASDE report on Friday many are predicting to see a reduction in planted acres but it is also possible we could see an increase in the yield estimate to offset that expected acre reduction.
Soybeans Unchanged as of 7:45
November beans closed higher yesterday after a weekend of heavy rain from hurricane Joaquin hit the Carolinas and likely caused some crop loss. Yesterdays Crop Progress Report put beans at 42% harvested versus 21% last week and 19% last year at this time. Bean export inspections came in at 41.3 million bushels well above last weeks 19.9 million bushels and above market expectations.
Wheat Minneapolis UP 5 Kansas City UP 6 as of 7:45
December wheat closed higher yesterday in spite of another favorable week of planting weather for the US Winter wheat crop. Mondays Progress report put US winter wheat planted at 49 % this week up 18 % from last week. Dryness in Ukraine, Russia and Australia continue to be a concern but no major bullish threats at this time.
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.