Morning Market Insight
Grain Marketing Specialist
Markets will be open regular hours tomorrow and closed on Friday.
Corn as of 7:45-Up 1
CH16 makes new contract low of $3.57. Jan 12th crop report 2 weeks out. High water on the Mississippi River is slowing barges. St. Louis is expected to reach 45’ by Thursday. With the clear US forecast, the river should be operable in a week.
Beans as of 7:45- Up 4
South American consultant notes Argentine producers still have an estimated 2 million hectares of beans to plant. YTD exports to China down 11%. South American carryover stocks are 24% higher than last year.
Wheat as of 7:45: MN Up 1 KC Up 2
Ukraine has seeded the smallest winter crop acreage in the past decade. Lack of wheat snow cover in North America, China, Europe and the Black Sea starting to get some attention.