Grain Marketing Specialist
Corn: As of 7:45- 1 lower
Pro Farmer makes its way into the second day of the tour today. Day 1 has OH at 148.37 bpa vs. USDA’s 168 and last yr at 182.11. SD at 165.94 bpa vs. USDA at 160 and last year at 152.71. In other news FSA data released acreage info reporting 83.147 million acres with 2.3 million of PP but keep in mind that this data is not held in high regard. Export inspections at 35 mb. And crop ratings decline 1 point to 69% g/e as expected. Stay tuned as we continue to watch for Pro Farmer info….
Soybeans: As of 7:45- 8 lower
Pro Farmer- OH pod count at 1125 vs 3 yr ave at 1342 and SD at 1054 vs 3 yr ave at 886. This was mostly as expected. FSA- planted 79.477 million acres with PP at 2.173, again this info is not held in high regard with many traders. Weekly export inspections at 13.8 and nopa crush at a solid 145.227 mb. Crop rating held pat at 63% g/e. Rain falling over much of the soybean growing regions helping push this crop to the finish line.
Wheat: As of 7:45- 2-3 lower
The wheat market continue to struggle as adequate US and global stocks weigh on it. HRS harvest continues at a brisk pace posting 53% complete vs 5 yr ave of 31%. By in large good yields and good quality have been being reported. We did have solid weekly export inspections of 20.6 mb.