January 13th, 2015
Grain Marketing Specialist
Reminder! Wheat Growers Annual Meeting will be held in Aberdeen at the Best Western Ramkota. Registration begins at 9:15am. Hope to see you there!
As of 8:00am 3 higher
The report yesterday showed favorable news in the corn market. UDSA lowered production 191 million bushels to 14.2 billion bushels. That was enough to spark some interest in the corn. Yesterday’s export inspection numbers were at 19.7 million. USDA also raised its forecast for ethanol usage by 25 million bushels, but feed demand dropped by 100 million. Below is a chart on how the numbers shook out yesterday.
As of 8:00am 7 higher
After bearish news hit the market, yesterday, we see some gains this morning in the soybeans. USDA raised total production by 11 million bushels. Production now sits at 3.97 billion bushels. USDA also raised Brazil’s output by 55 million bushels. US Exports remain good with inspections hitting 67.6 million bushels.
As of 8:00am 6 - 9 higher
Wheat is following trend this morning. Feed use was lowered yesterday by 30 million bushels. Winter wheat seedings were down 2 million acres from last year. US export inspections were at 8.8 million bushels. Year to date sales, in our export market, are down 32%.