Grain Marketing Specialist
SDWG will be holding Winter Marketing Meetings featuring Jeff Hainline with Advanced Trading.
Feb 9th - 4pm at the WG Admin office in Aberdeen (Dinner to follow)
Feb 10th – 10:30am at Roosters in Redfield (Lunch to Follow), 4pm at Top Floor Events in Huron (Dinner to follow)
Feb 11th – 10:00 am at the Kennebec Agronomy Center (Lunch to Follow)
Contact your nearest Grain Marketing Specialist to RSVP or for any questions.
Ethanol numbers out this morning.
Corn Unchanged as of 7:45
March corn ended the day Tuesday up 1 ¼ to close at $3.7250, Argentina weather forecast continues to push the corn market around. More rain would benefit filing corn and soybeans in the major growing areas of central Argentina. The next chance of some beneficial rainfall will be on Friday and again on Sunday. Brazils Conab will release their corn acreage estimate this Thursday.
Soybeans Down 2 ¾ as of 7:45
Beans led the pack Tuesday with the March contract ending the day up 5 ¼ to close at $8.8625, helped by noncommercial short covering and crop conditions in South America. Soybean harvest continues to roll on in Brazil with the Northern region showing low yields to start off. The southern regions could potentially see better yields with rains in the forecast that could aid the pod filling beans.
Wheat Minneapolis Unchanged Kansas City Up 1 as of 7:45
Wheat posted decent gains early off but fell later in the session yesterday. March Minneapolis ended the day Up ¾ cent at $4.9575, while March Kansas city wheat fell 1 ½ cents yesterday to close at $4.6525. There may be some opportunity for the US to export wheat into Brazil due to a lower Brazilian wheat crop estimate. Moderate precipitation in the central and southern plains will maintain favorable conditions for winter wheat through much of the region.