September 21 2015
Grain Marketing Specialist
Corn: 1-5 Lower
Down slightly on the overnight session, as the US farmers are getting in the field and are focused on harvest. Also China has been lackluster in their DDG imports and has some affect on the market. Also getting heavy competition from South American and the Ukraine on export market. Rains over the weekend that has slowed harvest but early estimates is that we are around 14% complete with corn harvest.
Soybeans: 3-5 Better
Two sided trade on the overnight as we saw focus turn to harvest. We have seen an slight uptick in export demand and are waiting for China’s visit with the promise to buy 2-3mmt. However things still point to less than impressive demand as world copmpetition will keep some preasure on US exports. Something to keep an eye on is Fed Agents in Brazil are on strike affecting loading/inspections at the ports.
Wheat: 1-5 Lower
Mostly lower on the overnight as Chicago and KC are lower but Minny remains steady. US wheat farmers are getting winter wheat planted and Canada is still trading to get their wheat out of the field and still have about 50% remain. World wheat still remains well supplied and US wheat is still at a premium vs competitors