September 19, 2014
Grain Marketing Specialist
Wheat and Soybeans made new lows in the overnight. Corn is holding its own, but trading at the lower end.
As of 8:00am 2 lower
Corn, this morning, is holding support at $3.36 Dec futures. Questions about acres and a potential slow harvest have slowed this market down for the time being. Export numbers came in, yesterday, at 26 million bushels which was in line with the weekly guesses. The weather pattern going ahead now has the 6 - 10 and the 8 - 14 forecasts wet and warm for the majority of the Corn Belt.
As of 8:00am 6 lower
Potential for a large South American soybean crop coupled with a huge US crop will continue to pressure soybeans going ahead. Export numbers yesterday were very good at 54 million bushels.
As of 8:00am 3 lower
Wheat has made new lows, again, in all exchanges. Competition from world markets and beneficial weather forecasts will continue to weigh down these markets. The bottom has not been found yet.