Morning Market Insight
February 27 2015
Grain Marketing Specialist
CORN- Unchanged as of 7:45
CK resistance should be around 3.93
IGC is pegging world corn production at 992mmt, unchanged from their Jan. estimate.
World carryout at 193mmt, dn 1 from jan..vs 175mmt a year ago
BEANS- UP 3 1/2 as of 7:45
Brazil truckers strike enters its 9th day
Agronomist Mike Cordonieer says the strike is becoming serious as it expands to more states and they have more demands.
Mato Grosso is 35% harvested vs 47% last year—and the harvest pace has slowed down.
WHEAT- UP 2 as of 7:45
Supported by beans and the trucker strike in Brazil.
IGC Pegs world prod at 719mmt vs 717tmt carryout up 10mmt from a year ago
Russia exported 322tmt in Feb, down 57% from last year.