March 9th, 2015
Drew Johnson
Grain Marketing Specialist

Monthly WASDE Report out tomorrow at 11:00am

The deadline to enroll corn and soybean bushels, for a new crop sale, in our Mark Base Builder program is this Friday March 13th. Call your local Grain Marketing Specialist or your nearest Wheat Growers Grain location for details.

Estimates for tomorrow’s report

U.S. ENDING STOCKS (billion bushels) 2014-2015
Mar. Average    High     Low    Feb. 2013-14
Corn                            1.822   1.860   1.777   1.827   1.232
Soybeans                        0.379   0.395   0.350   0.385   0.092
Wheat                           0.696   0.710   0.674   0.692   0.590

WORLD ENDING STOCKS (million metric tons) 2014-2015
Mar. Average    High     Low    Feb. 2013-14
Corn                           189.60  192.00  187.00  189.60  173.80
Soybeans                        89.40   91.00   88.50   89.30   66.25
Wheat                          197.80  199.00  195.40  197.90  187.46

WORLD PRODUCTION (million metric tons)
Mar.     Avg    High     Low    Feb. 2013-14
Corn
Brazil             74.6    76.0    73.0    75.0    79.5
Argentina             22.3    25.0    21.5    23.0    26.0
Soybeans
Brazil             93.9    95.0    91.0    94.5    86.7
Argentina             56.6    57.5   55.0     56.0    54.0

Corn: 3-5 higher

Corn is recovering a little this morning moving back into its recent trading range between 3.85 and 3.95 in the May futures, and between 4.10 and 4.20 in the December contract. There are mixed ideas going into tomorrow’s report.

Soybeans: 2 higher

Soybeans are moving higher this morning after holding support on Friday last week. Two-thirds of the soybean crop is harvested in Mato Grosso. USDA could take off another 10 million bushels of 2014 US carryout, but no major adjustments made for South America yet.

Wheat: 6-8 higher

Prices continue to move higher. USDA could raise the US carryout by 10-15 million bushels because of weaker demand. Right now, however, these lower prices are attracting buying interest.