October 22nd, 2015
Grain Marketing Specialist
Corn: 1 higher
Corn is managing to move higher, despite harvest pressure. Forecasted precipitation could cause some harvest delays, but long term forecasts suggest drier trends going into next week. Export numbers out today with expectations between 17.7 – 25.6 million bushels.
Soybeans: 5 higher
Soybeans continue to push all markets higher. USDA, yesterday, reported a big sale of 20,000 metric tons of soybean oil to China, and another sale of 20,000 metric tons of soyoil to an unknown. USDA’s sales data suggest that soybean sales are still behind about half of what we were this time last year. Another big week is expected with export sales. Trade guesses are anywhere from 44.1 – 66.1 million bushels.
Wheat: 3 higher
Beneficial rains expected across the central corridor, but like corn, wheat is following the soybeans. Exports are expected to be lack luster.