Morning Market Insight
December 10, 2015
Producer Marketing Manager
Deadline to signup bushels for our Winter Market Base Builder program is tomorrow!
Corn: As of 7:45 - Up 1
USDA's WASDE report yesterday was in line with trade expectations as they reduced exports 50 mil/bu and increased usage in ethanol by 25 mil/bu, for a net increase of ending stocks of 1.785 bil/bu (up 25 mil/bu from November). Export sales out this morning were good at 43.1 million bushels (expecting 18-26)
Soybeans: As of 7:45 - Down 3
The USDA released their monthly update and it was a non-event with the USDA leaving the US carryout unchanged at 465mbu. There was also nothing exciting in the world data. Weather in South America looks a little wetter a week out for the northern Brazil areas that are in need of rain but we have seen this before with no moisture materializing. Export sales released this morning were also decent this morning at 53.4 million bushels (expecting 26-40)
Wheat: As of 7:45 - Down 1-2
The WASDE report lacked major changes to the wheat balance sheet domestically and worldwide. Canadian wheat production was up 1.6mmt to 27.6mmt as the most notable individual change. Australian wheat was left unchanged at 26mmt with some trade estimates having been as low as 23mmt. Total world pro was up 2mmt from Nov. World stocks increased 2.6mmt. Exports sales were below already low expectations at 8.3 million bushels (11-18 expected)
The information contained above was taken from sources which Agtegra believe to be reliable, but is not guaranteed by Agtegra as to accuracy or completeness and is made available for information purposes only. There is a risk of loss when trading commodity futures and options.
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