September 23 2015
Grain Marketing Specialist
Corn: 3-5 Better
With more better than expected yield reports coming from the ECB, also adding to the pressure was weaker outside markets, made for a tough day yesterday for corn. We did see a bounce on the overnight with corn trying to say within that 3.83 10 day MA for the Dec contract.
Soybeans: 5-10 better
A mix of things added to double digit losses yesterday. With a weak Brazil REAL, weaker outside markets and with the pressure from harvest made for a down day. We did get some of that back on the overnight as we saw both Nov and Jan up 5. Yield reports that are coming in remain pretty good in the WCB, but we are finding many areas that were affected by dry weather. With the weaker REAL, it makes Brazil very competitive vs the US, they also have the grain to move and can get it moved.
Wheat: 5-8 Better
Wheat rebounded yesterday as they tried to follow corn and beans down but still finished the day lower. Overnight trade is pushing back higher as more talk surfaces of dryer planting conditions being an issue in Ukraine and Russian wheat areas. We are seeing some showers in western HRW areas overnight, which are welcomed.