August 14th, 2015
Grain Marketing Specialist
Corn: Down 3 as of 7:45
Corn slides lower to end the overnight down, on favorable weather conditions and big crop projections In Thursday’s trade corn ended on a positive note after the USDA report on Wednesday. September corn came in up 6 while December ended the day up 7. Weekly export sales were in line with expectations for corn. Old crop was reported at 29,000 MT while new crop sales were 501,900 MT.
Beans: Down 11 as of 7:45
Beans ended the day Thursday up 17. Weekly export sales came back slightly above the 3.1 million bushels needed weekly to hit the USDA total of 1.825 billion bushels. Weather forecasts remain relatively dry through the eastern corn belt, although the forecast for the western corn belt does show a few chances of moisture in the 6 to 10 day forecast.
Wheat: Minneapolis and Kansas City both unchanged to down 1 as of 7:45
Wheat finished the day up yesterday following right behind corn and beans, due to spillover support and short covering. Minneapolis September closed the day yesterday up 8 ¾ while Kansas city ended the day up 10. Export sales were within expectations at 421,600 MT for 15/16 and 17600 MT for the 16/17 crop year.