January 12, 2016
Producer Marketing Manager
USDA WASDE report is out today at 11:00 am. We will also get quarterly stocks and winter wheat seedings. Get your target orders placed If you would like to watch a certain price level.......volatility is usually the norm around report releases.
CORN: As of 7:45 – Steady
It is all about the report out today. The corn market tested the lows again yesterday as traders prepositioned for today’s report.
SOYBEANS: As of 7:45 – Steady
The 20 day moving average around the $8.70 level on the March futures stopped us yesterday as we finished the day on a lower note. We did sell another 140,000 tons of soybeans to unknown this morning. Watching todays report. See the carryout estimates below.
WHEAT: As of 7:45 – MPLS up 1, KC Steady
Both HRS and HRW markets gave back all of Friday’s decent gains yesterday. Pay attention to the world stocks number as well on today’s report. Winter wheat seeding numbers are estimated below.