November 9, 2015
Grain Marketing Specialist
Crop Progress report today at 3 PM. Crop Production report out Tuesday, November 10th at 11 AM
Corn: Up 1
Two-sided trade overnight. December trades in a 3½ cent range and hangs around $3.75. Average trade guess 2015 US corn crop: 13.564 bbu (range 13.390-13.678) and 13.555 in October. US corn harvest progress for the week is projected at 90-92%. That’s well above last year’s 78% and is also higher than the five-year average of 88%.
Soybeans: Up 3
Chinese soybean imports in October slowed to 5.53mmt, down 23.8% from September and 1.4 mmt more than it did last year in the same month. Average trade guess 2015 US soybean crop: 3.914 bbu (range 3.895-3.955) and 3.888 in October. Soybean harvest progress for week end at 94-96% vs. 89% last year & 93% average.
Wheat: Down 2
Australia harvest experiences rain slowdowns. Average trade guess US wheat carryout--15/16, 0.869 (range of 0.761-0.914) & 0.861 in October. US winter wheat planting progress for week is projected at 91-93% vs. 94% average.