October 6th , 2015
Grain Marketing Specialist
USDA Crop Production Report out at 11 A.M. Friday, speak to your nearest Grain Marketing Specialist to have your targets in and working.
Corn- UP 2 as of 7:45
Corn closed higher on the day Monday with help from the soy complex, and little fresh news.
Mondays Crop Progress Report put US corn at 27% harvested up 9% from last week, and up 11% from last year at this time. With the WASDE report on Friday many are predicting to see a reduction in planted acres but it is also possible we could see an increase in the yield estimate to offset that expected acre reduction.
Soybeans Unchanged as of 7:45
November beans closed higher yesterday after a weekend of heavy rain from hurricane Joaquin hit the Carolinas and likely caused some crop loss. Yesterdays Crop Progress Report put beans at 42% harvested versus 21% last week and 19% last year at this time. Bean export inspections came in at 41.3 million bushels well above last weeks 19.9 million bushels and above market expectations.
Wheat Minneapolis UP 5 Kansas City UP 6 as of 7:45
December wheat closed higher yesterday in spite of another favorable week of planting weather for the US Winter wheat crop. Mondays Progress report put US winter wheat planted at 49 % this week up 18 % from last week. Dryness in Ukraine, Russia and Australia continue to be a concern but no major bullish threats at this time.