December 15, 2014
Producer Marketing Manager
CORN: As of 7:45 – Up 1
Some rumblings surfaced Friday that China’s acceptance of MIR 162 is imminent. This comes on the heels of announcements out of Ukraine that they may not be able to execute on corn commitments to China…..hmmm. The decent weather in the past week combined with a continued futures rally has some grain moving off the farm. Subsequently, basis bids finished the week on a defensive note at the processors as well as export and feeder markets.
SOYBEANS: As of 7:45 – Down 1
Beans closed higher on Friday as we chop sideways. Will we see a run to the 10.82 mark (50% retracement) on the Jan futures? Watching export inspections due out this morning to keep an eye on export pace. S American weather looks to be fairly wet for the coming week, especially in Central Brazil.
WHEAT: As of 7:45 – Up 2
The market is contemplating Russian concerns on their currency as well as potential for export restrictions out of that region. So far it is speculation, but worth keeping an eye on.