October 7th , 2015
Grain Marketing Specialist
USDA Crop Production Report out at 11 .M. Friday, speak to your nearest Grain Marketing Specialist to have your targets in and working.
Weekly Ethanol Numbers out this A.M.
Corn Unchanged as of 7:45
December corn closed at $3.98 futures up 4 ¾ yesterday, due to fund buying and spillover support from beans. Weather continues to stay favorable for corn drying in the fields. USDA is likely to reduce the acres estimate in Fridays WASDE report by half a million acres or more, but with favorable late summer weather in most areas may come a higher yield estimate in Fridays report as well.
Soybeans Up 6 as of 7:45
After being up 11 during trade yesterday November beans ended the day up 4, even with harvest progressing at a rapid pace. Fridays WASDE report estimate for US bean yield is at 46.5- 47.7 bpa, last month’s report put US bean yield at 47.1. Soybean yields have been coming in above average in most areas and harvest continues at a good pace.
Wheat Minneapolis Up 2 1/2 Kansas City Up 4 1/2 as of 7:45
Minneapolis December wheat ended the day Tuesday up 10, and Kansas City Winter Wheat ended up 14. Weather concerns in the Black Sea Regions and Australia helped to push wheat higher. Warm and dry weather in western and southern Russia continue to be a concern for early winter wheat growth. Warm and dry conditions in the west and northwest growing areas of Australia continue to stress the filling wheat.