Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- Up 2
Ethanol grind: 970,000 barrels per day for week end Nov. 14—up 24 thou vs. last week and up 7.3% vs. last year. This week’s total is the 2nd highest since this data set began in June 2010.Rain is probable across key areas of central/southern Argentina the next 10 days. December 2014 corn futures closed at $3.63 ¼ on Wednesday making it the lowest settlement price for the contract since Oct. 27.
Beans as of 7:45- Up 1
Rains cause conditions for soybean planting to deteriorate into next week across Brazil.
Bean meal higher with bean oil lower. January 2015 soybean futures closed at $10.04 ¾ on Wednesday making it the lowest settlement price for the contract since Oct. 24.
Wheat as if 7:45-MW Unchanged KC Down 1
French wheat headed to the US for the first time in 12 years. Recent long-term forecasts projected improvement in drought outlook for HRW wheat. Taiwan bought 82tmt US milling wheat, Japan bought 72tmt US milling wheat.