Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- Down 3
U.S. corn export sales were impressive at 86 mbu. This brought the 4-week average to 42 million per week making it 2.5 times higher than last year. Near- to above-average rainfall of is forecast across Argentina through the next 7-10 days, which should aid drier corn in the south, but keeps corn to the north wetter than average. Export Inspections released at 10 AM
Beans as of 7:45- Down 3
Rains expected in the southern areas while northern areas to see drier and warmer temps. South American harvest is starting off quickly with Mata Grosso bean harvest @ 7.7% vs 5.8% LY. Malaysian palm oil is down.
Wheat as if 7:45-MW Up 1 KC Unchanged
Unseasonable mildness dominates U.S. southern Plains this week melting most of the snow pack. No cold air threats are seen for the winter wheat for the near future. Very little news in wheat markets