Grain Marketing Specialist
Corn: As of 7:45- steady
Little new news had this market trading in a 5c range yesterday and 2 ½c ranges overnight. Better export sales than we have seen over the past few weeks however does have us in the black along with a weaker $. Keep in mind that we will need to see sales pick up the pace even more going forward if we want to meet USDA projections for the crop year.
Soybeans: As of 7:45-4 higher
Solid export sales wasn’t enough to break soybeans out of its downward slide yesterday. It’s still a SA weather, Chinese demand, US production and farmer movement led market and nothing new has happened there all week. Technically this market remains weak.
Wheat: As of 7:45- 1-2 higher
Weather both domestically and in other parts of the wheat growing regions around the world has this market firming this week. Drought concern in parts of the US and too much rain in Eastern Australia to name a few. But keep mind the US has plenty of stocks and sales have been routine at best. Technically this market does look firm for the moment.