Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45-Up 2
U.S. 2015/16 corn reported under loan as of February 19 was 685.3 mbu. This is up 209.7 mbu a 44% increase from the 475.5 mbu of 2014/15 corn reported under loan at this time last year. Export Inspections released at 10 AM CST; Corn, 40.5 needed; 27.2 last week;Sorghum, 4.8 needed; 6.8 last week.
Beans as of 7:45- Up 6
U.S. 2015/16 soybeans reported under loan as of Feb. 19 was 108.8 mbu. This is up 51.5 mbu a 90% increase from the 57.3 mbu of 2014/15 soybeans reported under loan at this time last year. Export Inspections released at 10 AM CST; Soybeans, 13.3 needed; 64.7 last week
Wheat as of 7:45: MN Up 1 KC Up 2
Russia is expected to ship 1.5mmt of wheat in February, with record exports expected for the year. Egypt Supply Minister says they have enough wheat in reserve to last until June. Egypt’s purchase of spring wheat last week was first since 2010. Iran tenders for 50tmt US, Canada or Australian wheat.