Morning Market Insight
Grain Marketing Specialist
USDA WASDE report release time is 11:00 AM
Corn as of 7:45- Unchanged
USDA WASDE at 11:00: Average trade guess of 2015 U.S. corn crop: 13.484 bbu. Brazil currency down to thirteen year lows. Yields that have been coming in seem to be disappointing. US is not competitive in the export market. Brazilian corn remains cheaper than US through February. CONAB raised Brazil corn prod to 84.73mmt from 84.3mmt.
Beans as of 7:45- Down 2
USDA WASDE: Average trade guess for 2015 U.S. soybean crop: 3.841 bbu. Trade guess for U.S. soybean carryout--14/15, 230 mbu. CONAB raised its Brazil prod to 96.24 from 96.2.
Wheat as if 7:45-MW Down 1 KC Unchanged
USDA WASDE: Average trade guess for U.S. all wheat carryout: 15/16, 868 mbu. Russian wheat crop is at 60mmt unchanged. World has adequate wheat supplies.