December 18, 2014
Producer Marketing Manager
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CORN: As of 7:45 – Up 5
Higher close yesterday is leading into stronger markets again this morning……follower of wheat. We are watching a gap on the March weekly chart at the $4.23 - $4.26 area that the market may be poised to go fill. Weekly export sales released this morning showed corn at 27.3 million bushels, which is within the expected range of 26-33.
SOYBEANS: As of 7:45 – Up 7
Stronger finish yesterday as well after trading lower most of the session. Support from the wheat and corn pits spilling over this morning. Exports were within expectations this morning at 25.6 million bushels (22-29). We did see some 2015/16 sales this week as well at 12.9 million bushels.
WHEAT: As of 7:45 – Mpls Up 14, KC Up 17
It’s all about the wheat, bout the wheat, bout the wheat…..Continued eyes on Russia’s currency, economy, interest rates, and stance on exports. US Export sales out this morning were just above expectations at 17.5 million bushels (9-17). Mpls March futures have gained $.50 this week!