Grain Marketing Specialist
Corn: As of 7:45- 1 lower
Corn posting modest gains on Friday primarily on the announcement of a 130,000 MT sale, harvest delays and slow farmer movement in the east. This market still remains range bound with harvest progress anticipated to be roughly 75% complete in this afternoons estimate. Export sales still remain at a relatively slow pace. Technically this market has no real clear direction as I mentioned above this market appears to be looking for direction.
Soybeans: As of 7:45- 4 lower
Soybeans pressured on Friday on a firm US $ and moisture falling on some much needed areas in SA. USDA did announce a sale of 208,000 MT to unknown and changed a previous announce of 236,000 from unknown to China. Harvest is anticipated to 85% complete in this afternoon’s estimate. Much like corn this market appears to be range bound as we balance a US harvest and SA weather.
Wheat: As of 7:45- 5 higher
Wheat appears to be firm this morning as moisture didn’t appear to accumulate over US HRW growing areas like many had hoped for. 6-10 day forecast does look to have above normal precip for much of the US. Winter wheat planting progress expected to be around 85% complete in this afternoon’s estimates. US $ slightly lower this morning after Thursday/Friday’s sharp move higher.