October 9, 2014
Producer Marketing Manager
USDA Supply/Demand report is out tomorrow at 11am.
CORN: As of 7:45 – Down 1
Weekly export sales out this morning were toward the high side of expectations for corn at 30.9 million bushels sold (range of 22-30). Precip hangs on for the SE corn belt for the next 7 days…..
SOYBEANS: As of 7:45 – Up 4
PNW values for October soybeans have dropped significantly over the past few days as harvest pressure is on in the Dakota’s and Minnesota and bushels are being sold. Export sales were decent on soybeans as well at 33.9 million bushels, just above the average guesses of 18-33.
WHEAT: As of 7:45 – MPLS Down 5, KC Down 6
Wheat sales were disappointing this week at 13.7 million bushels sold. World wheat supplies are still adequate…..we should see that reiterated again on tomorrows report.