Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- Unchanged
Corn futures closed higher for the third straight session. CZ15 closed up ¾ cent at $3.69. September 11 USDA WASDE: Average trade guess of 2015 U.S. corn crop: 13.484 bbu. Average trade guess U.S. corn carryout for 14/15, 1.771 bbu. U.S. corn mature for the week ending September 13 was approx. 25% last year and the five-year average is approximately 40%. Harvest is slowly beginning, mainly in parts of the ECB and southern states.
Beans as of 7:45- Down 3
News is quiet awaiting the USDA tomorrow. September 11 USDA WASDE: Average trade guess for 2015 U.S. soybean crop: 3.841 bbu. Average trade guess for U.S. soybean carryout--14/15, 230 mbu. U.S. soymeal exports to average 130-135 K MT per week v. 5-year average of 94/week.
Wheat as if 7:45-MW Down 1 KC Up 1
A quiet trade on Wednesday in the wheat markets as the market unable to higher the higher overnight tone. September 11 USDA WASDE: Average trade guess for U.S. all wheat carryout--15/16, 868 mbu. U.S. all wheat exports are forecast to average 15-20 mbu per week nearby. Taiwan flour millers sign letter of intent to buy US wheat. Winter wheat seeding is beginning.