January 19, 2016
Grain Marketing Specialist
Corn: As of 7:45 up 4
With no markets yesterday, we say positive gains in the overnight session. March contract actually” gapped” slightly higher after we closed at 3.63 ½ last Friday and we opened around 3.64 ½ last night. Support is coming from improved world economic outlook. Another strain of bird flu has stricken 10 turkey farms in Southern Indiana.
Soybeans: As of 7:45 up 7 ¾
Bean complex was higher on the overnight as well. Most contract were up 7 with Nov 16 up 5 1/2. Brazilian harvest is just getting stared down south. Very early result has come back sup par, mostly in the Northern part of Brazil as they experienced dryer growing conditions.
Wheat: As up 7:45 all markets up 3 ¾-4
All wheat class had positive gain on the overnight with Chicago leading the why which was up 4 on the March contract. KC and Minny were up 2 ¾ respectively. There is concern in Western and Central Russia, the Ukraine and Belarus about colder temps and the adverse effect that would have on the crop conditions if not winter kill.