December 17, 2015
Drew Johnson
Grain Marketing Specialist

Federal Reserve increased interest rate by 0.25%. Pressure to remain on commodity markets as the dollar and stock markets remain strong. Export sales report, this morning, to be seen as bearish.

Corn: 2 lower

Ethanol production numbers, released yesterday, showed 890,000 barrels per day versus the 839,000 per day last week. Export numbers, this morning showed sales of 26.7 million bushels. Total sales for the year are at 735.8 million bushels. This is 23% behind last year at this time. Technically we have dipped below our support line and now look to retest the lows.

Soybeans: 7 lower

Soybeans exports sales, this morning, showed a total of 37.6 million bushels. Total sales for the year were at 1.29 billion bushels. This is 14% behind last year’s total at this time. News that the spending bill in Washington would apply the biodiesel credit could stimulate imports and cause liquidation of funds. Technically we dropped below our support and are looking to test lows again.

Wheat: 2 - 4 lower

Total wheat export sales were at 11.8 million bushels. Total sales, year to date, is at 552.1 million bushels, or 16% behind last year at this time.