November 12, 2015
Grain Marketing Specialist
Due to the state of South Dakota’s Dakota Fast File changeover to the Secretary of State UCC Filing System, Wheat Growers will not be issuing grain checks from Friday, November 13th at 5:00 PM through Monday, November 16th at 8:00 AM.
Corn: Down 2
Weekly ethanol report out today. Tuesday’s USDA WASDE report boosted Brazil 2014/15 exports to a record 31mmt; the forecast for 2015/16 was unchanged at 25mmt. Rosario exchange estimates the Argentina corn crop for 2015/16 to be 20.2mmt and the USDA is using 25.6mmt.
Soybeans: Down 4
The USDA increased the soybean yield 1.1bpa to 48.3bpa, the highest on record and making it the largest US crop in history at 3.981bbu, beating last year’s record by 54mbu. USDA has Brazil production at 100mmt. The 6-10 forecast in Brazil has the southern belt and the northeast belt getting the best rains.
Wheat: MW Up 1, KC unchanged
US wheat is a stocks to use of 45.1%, HRW is 60.3%. Updated US all wheat export forecast of 800mbu is down 6% from last year and 32% from two years ago. The 6-10 forecast is very wet (see chart below).