October 8th , 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.
Export sales out at 7:30 this morning.
Corn Down 1 as of 7:45
December corn closed lower yesterday after failing to reach $4.00’s on the board, missing the mark by ¼ cent and closing the day down 2 ½. Weather continues to be ideal for corn harvest in the Midwest with more warm dry weather in the forecast. Ethanol production was up this week by 7,000 barrels to 950,000 barrels. Production was up for the fourth time in five weeks.
Soybeans Down 4 as of 7:45
November beans fought their way through the session to end the day up 3. Analysts are expecting the USDA to lower US production estimate from 3.935 billion to 3.884 billion bushels, even with the reports of high yields out in the country. Soybean planting is expected to be around 5% complete in Brazil, Central Brazil is dry but has moisture in the forecast for the weekend.
Wheat Minneapolis and Kansas City both up 1 1/2 as of 7:45
Both Minneapolis and Kansas City wheats struggled yesterday and ended the day down. Minneapolis Dec. wheat ended the day down 8 with Kansas City Dec. wheat right behind it at down 7 3/4. Weather continues to be top concern for the wheat market. Russia, Ukraine, and Australia dryness, along with parts of the US that could use a little moisture. Winter wheat planting is going well but could still take the rain.