Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- Up 2
Ethanol grind: 970,000 barrels per day for week end Nov. 14—up 24 thou vs. last week and up 7.3% vs. last year. This week’s total is the 2nd highest since this data set began in June 2010.Rain is probable across key areas of central/southern Argentina the next 10 days. December 2014 corn futures closed at $3.63 ¼ on Wednesday making it the lowest settlement price for the contract since Oct. 27.
Beans as of 7:45- Up 1
Rains cause conditions for soybean planting to deteriorate into next week across Brazil.
Bean meal higher with bean oil lower. January 2015 soybean futures closed at $10.04 ¾ on Wednesday making it the lowest settlement price for the contract since Oct. 24.
Wheat as if 7:45-MW Unchanged KC Down 1
French wheat headed to the US for the first time in 12 years. Recent long-term forecasts projected improvement in drought outlook for HRW wheat. Taiwan bought 82tmt US milling wheat, Japan bought 72tmt US milling wheat.
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.