December 19, 2014
Producer Marketing Manager
CORN: As of 7:45 – Down 5
Corn was a follower of wheat higher yesterday, and looks to be a follower lower today. It was made official that China is accepting the MIR162 Syngenta corn trait. Dec corn traded to $4.3725 yesterday, its highest point since July 8th and $0.73 cents off its lows. Check with your local Wheat Growers Grain Marketing Specialist at ways to protect this gain and manage your risk.
SOYBEANS: As of 7:45 – Down 7
Beans finished the strongest of the three yesterday. However, as the board has rallied basis at the Gulf has continued to slip. We did see China book 55 million bushels of next year’s soybean crop. New crop futures continue to trade sideways in that $10.00 – 10.25 range. Each day we get closer to the South American harvest and knowing how big it really is.....
WHEAT: As of 7:45 – Down 13-14
Wheat values couldn’t hold their gains yesterday as we traded back towards unchanged for the day. We are seeing continued weakness into the overnight trade as there isn’t much for additional news out of Russia.