November 25, 2014
Producer Marketing Manager
CORN: As of 7:45 – UP 2
We are all but finished with this year’s corn harvest as USDA is showing nationwide progress at 94% complete, just ahead of the 5 year average. Corn export numbers continue to lag. Some of it due to lack of business, but also due to the fact that we are loading record amounts of soybeans going through our export houses. As you can see below, we are priced higher than most competing feed grains on a FOB basis.
SOYBEANS: As of 7:45 – UP 12
Another huge week of export inspections for soybeans with China taking about 77% of the total. Last week shipments were 115 million bushels with China taking 90; this week shipments were 102 million bushels.
WHEAT: As of 7:45 – UP 2
Export shipments out yesterday were well over trade expectations at 16.4 mbu (8-14). Winter wheat crop conditions declined 2% from last week in the good/excellent category, to 58%. Most notable change was a 9% drop in Nebraska conditions dropping 9%, while Tx and Co dropped 2%, KS and others dropped 1%.