November 20 2015
Grain Marketing Specialist
Contact your Grain Marketing Specialist about the Winter Market Base Builder program today. Deadline to Sign up is December 11.
Corn: Lower to Unchanged
Corn market could not carry its gain from yesterday into the overnight session. We saw Dec down ¾ of a cent and March down a penny. 10 Day MA sits around 3.62 and Z/H spread is remains unchanged around 6 cents. USDA monthly cattle-on-feed report comes out at 2pm CT today. Average guesses are on feed 102.2%, placements 96%, and marketing’s 96%.
Soybeans: 5-8 Lower
Soy complex was in the same mood as corn, as they could not keep their head above water in the overnight session as Jan futures inches closer to new lows of 8.50. J/H spread sits around 3 ½ cents. Still hearing of concerns of dryness in parts of Brazil. Other places seem Ok, but in all the weather in SA seems pretty normal. Most are predicting a record crop. Demand for US meal seems to be lightening up.
Mixed trade in the wheat markets on the overnight session, as we saw a light pop up in Minneapolis and Chicago but a slide down in KC wheat. Just not enough “fresh” news to make any big changes here. Talk is the Ukraine to possibly limit exports