January 15th, 2015
Grain Marketing Specialist
As of 8:00am 5 higher
Corn turning around this morning as both old and new crop values tested the 100 day moving average yesterday. FSA summery showed, for 2014, that there was 1.3 million less acres planted into corn. Ethanol prices fell to nine year lows, while inventories rose to two year highs. Exports were at 818,800 metric tons. Up from last week, but down 10 percent from the 4 week average.
As of 8:00am 6 higher
Soybeans turned around yesterday on weather and demand news. Export sales this morning showed 1,133,200 metric tons. This is up 24 percent from last week, and up 66 percent from the 4 week average. Most of the sales were to China. Traders are keeping a watchful eye on South American weather. Argentina receiving heavy rains, but Brazil’s weather forecast is turning hot and dry.
As of 8:00am 5 - 8 higher
Export sales of 284,800 metric tons this morning. That is up 89 percent from the previous week, but down 11 percent of the 4 week average. Weather forecasts, for the plains, show only light precipitation, but warming temps.