Sep 26th 2014
Grain Marketing Specialist
Corn: As of 7:45- 1 lower
Light news day as 3.24 ¾ seem to hold for now. The next 5 days appears to good harvest weather but 6-10 day shows some moisture possibly slowing harvest next week. Yields reports continue to grow… Sep 30th we will see Sep 1 stocks estimate from USDA. Technically I have support at 3.24 ¾ and the psychological 3.00.
Soybeans: As of 7:45- 8 lower
News lows again last night as combines either switch from corn to beans or in our case start on beans. Yield reports remain stout. Yesterday USDA did announce a sale of 115tmt to China for 14/15. The next 5 days appears favorable for harvest progress with moisture in the 6-10 day.
Wheat: As of 7:45- 2-3 lower
Winter wheat seeding continues to plug along and spring wheat harvest wrapping up. USDA did announce yesterday a 120tmt HRW sale to Nigeria. Talk of rains delaying harvest in Brazil and possibly making for quality concerns. Support for spring wheat remains at 5.30 and winter at 5.53.