Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- down 1
U.S. corn mature as of Oct. 5 likely to range from 70-75% vs. approx. 73% last year & 5-year avg. of approx. 81% .Outstanding U.S. corn export sales as of Sept. 25: 450mbu vs. 509 mil last year and the 5-year avg. of 480 mil. Rains still disrupt harvesting 6-10 and 8-14 day maps show above normal precipitation across the center and heart of the US corn growing region. Livestock margins remain good with ethanol margins slimming.
Beans as of 7:45- Down 2
Brazil Soy Farmers Sold 12% of 2014/15 Crop as of October 1 down 32% from a year ago. Outstanding U.S. soybean export sales as of Sept. 25: 1009mbu vs. 940mbu last year and the 5-year average of 741mbu.
Wheat as if 7:45-MW unchanged KC unchanged
Heavy rain turns some wheat too moist to harvest in Argentina this weekend/next week.U.S. all wheat export sales of 27.2mbu in latest week were up vs. 4 week average of 14.5 and a 9-week high . Brazil supposedly to export wheat next week, first time in a few years. Russia farmers are seeding wheat at an accelerated pace on dry conditions.