November 7th, 2014
Grain Marketing Specialist
Next Monday is the November WASDE Report.
As of 8:00am 3 lower
Corn lower again this morning on lack of demand news. Corn is managing to hold its 100 day moving average at $3.68 December futures. Traders expect to see an increase in total production in Monday’s WASDE Report. Weather forecasts expect to be cold and dry as we get harvest wrapped up.
As of 8:00am 1 lower
Soybeans down a little after being mostly higher, on the overnight, on good demand news, with China being the main buyer. Traders expect the USDA to increase production in next Monday’s WASDE Report. Brazil getting some rains and this, for now, is seen as favorable.
As of 8:00am 3 - 6 lower
Wheat continues to head lower because US origins are out priced and there is so much of it in the world. There is no real good reason why the wheat market should rally anytime soon unless some significant situation occurs in another part of the world.