Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- Down 2
This month has seen unshipped corn sales grow by 77 mbu. 10-year average is an 18 mbu South American crop scout holding Brazil at 74mmt and Argentina at 21mmt, both 1mmt below USDA estimate. Reports of scattered ethanol plant slowdowns. Chinese state owned corn reserves are expected to climb to record levels and could approach 120mm
Beans as of 7:45- Down 4
South America and Brazil gets average to above average precipitation. Soybean sales to China are down nearly 90 mbu from 13/14. Chinese meal demand said to be weakening. Soybean meal exports to average 7% higher yr to yr over the next month at 323 K MT per week.
Wheat as if 7:45-MW Down 3 KC Down 5
China sells 17tmt of US wheat that was in state reserves. Traders begin to worry about warmer US temps and its impact on the winter wheat. Near-term wheat exports expected at 10-15 over the next month, compares to 13.9 in 2014