Grain Marketing Specialist
Corn Down 1 as of 7:45
March corn closed the day Monday down ¾ cents at $3.7125 with little market moving news. Dry regions of Argentina are looking for rain by the end of the week but new forecasts have pushed chances of rain further back. Export inspections came back at 26.8 million bushels well behind the 36.6 million bushels needed weekly.
Beans Up 1 as of 7:45
March beans ended the day Monday down 1 ½ cents at $8.8075, after Brazil and Argentina received beneficial showers over the weekend with more on the way to Brazil this week. Export inspections came back at 42.4 million bushels, just below last weeks 44 million bushels well ahead of the weekly needed 16.2 million bushels.
Wheat Minneapolis Up ¾ cent Kansas City Down ¾ cent as of 7:45
Both Minneapolis and Kansas City wheats ended the day down around a nickel, with a little help from a slightly weaker dollar and with some moisture benefit expected for winter wheat areas in this week's winter storm. The western Plains received light to moderate snow amounts on Monday with blizzard conditions expected to cross the central Plains on Tuesday. Moisture will track from Colorado to Iowa and beyond but will largely miss areas south of the Kansas border. Export inspections came back at 10.4 million bushels with 7-13 expected and nearly 8 million bushels below the pace needed.