April 20th, 2015
Grain Marketing Specialist
CORN- Down 2
Export Inspections released at 10 AM CDT; Corn, 42.4 needed; 33.7 last week. Milo—5.5 needed; 9.3 last week .Corn traded mostly higher overnight. Funds added an additional 47,462 contracts to their short position according to the CFTC report Friday. Currently funds are short 86,826 contracts. Japan’s corn use was down to 44.4% in February as end users are shifting to other feed stuffs like wheat, barley and sorghum. The weak El Nino in the Pacific Ocean is expected to continue through 2015 according to the US Climate Prediction Center.
SOYBEANS- Up 4
Export Inspections released at 10 AM CDT; Soybeans, 6.2 needed; 16.5 last week .
Brazil harvest winds down while Argentina is still on track for record production.
Friday’s meal and oil open interest was down, while bean activity showed virtually no change in open interest.
WHEAT- Minneapolis and Kansas City- Up 2
Export Inspections released at 10 AM CST; Wheat, 22.9 needed; 16.4 last week
Heavy rains mainly missed Eastern CO and Western KS and Western SD the past few days.
Seeding of spring wheat continued in parts of ND over the weekend with a few getting rains to delay progress.