December 9, 2015
Producer Marketing Manager
Reminder…..The USDA December WASDE report is out at 11 am today.
AND Friday, Dec 11th is the deadline for signing up bushels in the Winter Market Base Builder Program. Be sure to contact your nearest Grain Marketing Specialist to get enrolled today!
CORN: As of 7:30 – UP 2
Trade is estimating today’s US Corn carryout at 1.768 billion bushels for 2015-16, this is slightly higher than the 1.760 number we seen in November and comparable to last year’s carryout of 1.731. Widespread rains continuing across Southern Brazil and continues to be one of the wettest Nov/Dec periods in some time……at this point it doesn’t sound too detrimental to the corn crop. Stay tuned.
SOYBEANS: As of 7:30 – UP 3
Estimates for soybean carryout is coming in at 462 million bushels for 2015-16. Close to the 465 number USDA showed us last month. Northern Brazil has been a little different from southern Brazil in terms of precip as dry patterns continue across the large growing regions in the north. Something to keep our eyes on as their growing season progresses into Jan.
WHEAT: As of 7:30 – KC UP 4, MPLS UP 3
The trade is not anticipating much change on the wheat balance sheet today with estimates of all wheat carryout at 918 million bushels. Up slightly from 911 last month. Exports are expected to remain small going into the new year.