Grain Marketing Specialist
Corn: As of 7:45- steady
Talk of China halting US DDG imports along with modest harvest pressure weighed on the corn market yesterday. Many believe that the US farmer may sell that last 15-20% that gets harvested. Technically this market doesn’t appear to me to have a lot of direction as we remain range bound. Export sales this morning at 708.8 exceeding the light expectations of 300-500.
Soybeans: As of 7:45- 2 lower
SA weather was noted as one of the drivers lower yesterday as moisture seems to be falling were it is needed. This market remains technically weak as we tested the lower end of the channel. This is a market in need of some new fundamental news. Soybean export sales at 2090 slightly exceeding expectations of 1600 to 2000
Wheat: As of 7:45- steady
Not a lot of fresh news in this market as a burdensome US stock situation seems to trump any kind of weather concern. Export sales of 550.3 for 15-16 and .200 for 16-17 also on the higher end of the expectations of 350-600.