Dec 31st 2014
Grain Marketing Specialist
There will be no trade tonight; tomorrow and tomorrow night then back to normal trading Friday a.m.
Corn: As of 7:45- 1 lower
The announcement of 157.5 MMT of corn sold to Mexico yesterday didn’t seem to affect things much. China looks to try to auction 5 MMT of reserves next week. COT shows traditional funds long 193,516 increasing nearly 12,000. We look to be approaching the low end of the recent range let’s see if we can hold on choppy holiday trade.
Soybeans: As of 7:45- 5 lower
Very little news as we just kind of drifted lower yesterday into last night. SA weather still appears nonthreatening as early beans will start to be harvested soon with the bulk still 1-2 months out. Dr. Cordonnier did increase his Brazil production estimate to 94 MMT the same as USDA.
Wheat: As of 7:45- 1-2 lower
Very little news as Russia and cold weather don’t seem to worry traders much right now. The path of least resistance seems to be lower for the time being as we continue to grind through the holiday season.