Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45: Up 2
March corn closed down 6 yesterday @ $3.42½, and down 15¾ from last Friday’s close. Overnight corn trading in a 3 ¾ cent trading range. October corn grind was up 18% versus last year at 504 mbu. Argentina 43% planted vs 41% last week.
Beans as of 7:45: Up 4
January beans closed down 2 yesterday @10.30 35 cents less than last Wednesday high of 10.65. Make sure you talk with your local grain marketing specialist and have your targets working to take advantage of these volatile swings. Total crush was 175.9 mbu vs. 170.1 last year and trade guess of 175.4. Crush was almost a record for October and suggest an annual crush of 2.0 billion bushels.
Wheat as of 7:45: MW-Unchanged KW Up 5
Minneapolis closed up 4 yesterdays with a 2 ¾ cent trading range overnight. Kansas City closed down 7 yesterday reaching new contract lows. Overnight trending higher with a 4 ¼ cent trading range. Australia eyes record wheat crop with low protein.
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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.