September 15, 2015
Grain Marketing Specialist
NOPA Crush report out at 11:00 AM
Corn: Down 2
Corn was higher again yesterday for the sixth straight day and was higher again overnight, but it couldn’t hold on. Crop Conditions remained steady since last week at 68% good/excellent, still behind last year at 74%. 87% of the crop is dented and 35% mature. The weekly export inspections were below the trade average at 28.0 Million Bushels.
Soybeans: Up 1
Technical buying was the driver yesterday, funds bought an estimated 5,000 contracts. Export inspections were above the trade average at 13.6 Million bushels. Planting will soon begin in Brazil, but it’s dry; acres expected to be up from last year. Crop conditions dropped 2% from last week at 61% good/excellent. The 6 to 10 day forecast should help push along harvest.
Wheat: MW down 4; KC down 3
A freeze reportedly hit Brazil but mostly a technical event yesterday. Export Inspections were above the trade average at 23.8 Million bushels. Russia Ag Min says wheat harvest is 76% complete and the US is 97% complete. 9% of Winter wheat is planted behind last year’s pace of 11%