Morning Market Insight
9-29-14
Cutter Murray
Grain Marketing Specialist


Corn as of 7:45- Unchanged
Crop Progress likely to show U.S. corn crop Good/Excellent near steady at 74% vs. 55% last yr. December 2014 corn futures closed at $3.23 on Friday after establishing a contract low of $3.22 ¾. This is the lowest closing price for a nearby December corn contract for this date since 2006 ($2.59) U.S. corn harvest estimated at 13-18% as of Sept. 28 compared to 11% last year and the 5-year average of about 23%,Export Inspections released at 10 AM CDT. Corn prices may still have more downside amid pressure from record harvest.

Beans as of 7:45- Unchanged
Crop Progress likely to show U.S. soybean crop Good/Excellent near steady at 71% vs. 53% last year. Commitment of Traders report- U.S. winter wheat planting estimated at 38-43% as of Sept. 28 vs. 37% last year and the 5-year avg. of approx. 36%

Wheat as if 7:45-MW Up 2 KC Up 1
U.S. winter wheat planting estimated at 38-43% as of Sept. 28 vs. 37% last year and the 5-year avg. of approx. 36%. Non-Commercial long CBT wheat futures only positions increase 5,880 contracts