September 18, 2014
Drew Johnson
Grain Marketing Specialist


Corn
As of 8:00am 2 lower

Ethanol numbers yesterday came in at 18.8 million barrels, which is up from last week. Corn maintaining prices as demand, for now, has turned in our favor. This is riding on the backs of decent exports and ethanol production. I would not expect to see this last long as the 6-10 day forecast is dry with above normal temps. This should get combines in the fields where crops are mature. With such a huge crop expected to come, don’t think we have bottomed out just yet.

Soybeans
As of 8:00am 2 lower

Soybeans were trying to push higher in the overnight on solid export news. Yesterday USDA announced a 22.8 million bushel sale to China. Export numbers out today are expected to be around 45 million bushels. Frost damage is still being assessed; any significant numbers will come out in the weekly crop progress reports.

Wheat
As of 8:00am 4 lower

Wheat continues to head lower as MPLS and KC set new lows. Good weather for winter wheat seeding and better export competition keep pressure on the wheat markets.