August 11th, 2015
Grain Marketing Specialist
August USDA report out tomorrow at 11. Contact your nearest Grain Marketing Specialist to have your targets in and working.
Corn Down 6 as of 7:45
September futures finished up 17 ½ yesterday, while December pushed above the $4.00 dollar mark.
USDA crop progress report put corn ratings at unchanged from last week 70% good to excellent, versus 73% last year at this time. Corn export inspections did not exceed the estimated average for the first time in nine weeks but they did reach the weekly needed pace to reach the USDA’s projection.
Soybeans Down 14 as of 7:45
November beans finished the day yesterday up 31, pushing through the 200 day moving average. Soybean inspections were reported at 152k tonnes, above the market expectations of 75-160k tonnes.
Exports continue to run above the average needed to meet the USDA’s expectations. USDA crop progress report put beans at 63% good to excellent matching last week, but down 7% from last year at this time.
Wheat Minneapolis Down 7 Kansas City Down 9 as of 7:45
Wheat followed corn and beans yesterday with Minneapolis ending the day up 9, and Kansas City ending the day up 11. HRS harvest should keep rolling this week across North Dakota and Montana as dry weather continues. USDA crop progress report put Spring Wheat at 28% harvested, compared to the five year average 20%. South Dakota harvest progress was set at 53% this week versus 24% last week. Winter Wheat was said to be 97% harvested versus the five year average of 90%. Ending stocks for the report out Wednesday is said to 858 million bushels up from 842 million bushels estimated in the July report.