February 6, 2015
Lee Sanderson
Assistant Grain Merchandiser

marketing meeting

Corn as of 7:45-up 1
USDA Supply and Demand report out next Tuesday the 10th, (estimates below). Ethanol exports for December came in at 76 million gallon taking 2014 calendar exports up to 852 million gallon. The top 2 recipients were Canada and Brazil. Census pegs December U.S. corn exports at 116.7 mbu vs. 103.4 in November and 143.1 in December of 2013.

us carryout

Soybeans as of 7:45-unchanged
Funds bought 5,000 contracts yesterday. Showers are expected over the next 5 days for much of South America. The Buenos Aires Grains Exchange expects a record Argentine soy crop this year of 57 million tonnes; the current USDA Argentine soy production estimate is 55 million tonnes.

Wheat as of 7:45- MW-up 5,  KC-up 4
Values were higher yesterday off the weaker dollar and speculation of the Egyptian government using 100 million dollar grant program to purchase wheat. Funds bought 7,000 contracts yesterday. The Ukrainian currency collapsed also, making exports more competitive in the US. Fighting in Ukraine intensifies as the US and EU diplomatically try to end the conflict.