December 2nd 2015
Grain Marketing Specialist
Speak to your nearest Grain Marketing Specialist about the new Winter Market Base Builder Program, and our New December Corn Moisture Averaging Program.
Ethanol numbers out this morning.
Corn- Down 2 as of 7:45
March corn ended the day yesterday up a touch helped by late news from EPA Monday that the mandate for corn-based ethanol would total 14.27 billion gallons in 2016. Farmers in Argentina look to increase corn plantings by as much as 10% after the presidential election this past weekend. With a large boat line-up in Brazil concerns switch to whether or not they can get it all moved or if some boats may switch to the US.
Soybeans- Down 2 as of 7:45
The soybean market traded higher Tuesday on technical and spillover strength in the soy-meal market as well. US farmer was fairly active seller yesterday as cash price begins to become desirable in the WCB.
Weather conditions look favorable for South America. Dry areas are expected to receive some much needed moisture in the next couple weeks. Brazil is 79% planted, 6 points behind the 2014 pace of 85% and 8 below the 5-year average of 87%
Wheat- Both Minneapolis and Kansas City steady to weaker overnight
The wheat market traded lower yesterday on abundant supplies, slow demand and improving favorable weather conditions for Winter Wheat. Due to dry weather Informa Economics reported that Australia’s Government lowered its estimate of the wheat crop to 24.0 million metric tons, suggesting that USDA may lower its 26.0 million metric ton estimate for Australia.