February 7 2015
Grain Marketing Specialist
USDA Stock Report Tuesday 10, 11am
Corn: 1-2 Lower
Corn had a decent week last week with a $.16 overall gain in the nearby market. Estimates for Tuesday’s USDA report for 14/15 carryout are 1.817-2.002 billion bushels. Jan report showed 1.877 bill bu. Corn acres are going to be debatable here on out. Ethanol Margins are struggling, how will that affect grind? Still seeing quality issues in corn being delivered, have you checked your bins???
Soybeans: 1-2 Lower
Soybeans, like corn saw a decent close to the week with a $.13 gain in the nearby markets. But meal lost .50/ton to close out the week. Estimates for USDA report are: 356-440mil bushels. January showed a 410 carryout. Exports have been strong until this past week as we saw them slowed down. We have seen some SA bushels come in as well. Weather has still been a concern for Brazil practically, but has been ok in Argentina. Brazil has seen some drier and warmer than normal in many areas. How will that affect overall yield?
Wheat: 2-5 Lower
Wheat also had a decent close to the week as nearby markets had a positive close to the week. Although had a volatile close Friday. Estimates for the USDA report are as followed: 595-730mill bushels. Jan we say a 687 mill carryout. With the como of a weaker dollar and continued struggles in Russia helped support the increase in wheat price.