Grain Marketing Specialist
Corn: As of 7:45- 2 lower
A stout export sales number and continued fund activity kept corn in the black yesterday. We also have continued support hot/dry conditions stressing the corn crop in Brazil. Planting progress inching north with expectations of 2-3% gain for the week for Monday’s estimates.
Soybeans: As of 7:45- 1 to 2 lower
Talk of increased soybean production in China and fund activity taking a break for the day seemed to be enough to cap the party for now yesterday. Parts of the Argentine crop still struggling with harvest as wet conditions make that process difficult. NOPA crush released at 11 cst. Ave estimate at 156.2.
Wheat: As of 7:45- 2 lower
Yesterday’s export sales above last week but well below a year ago. This wasn’t enough to post gains yesterday as there is continued moisture forecasted for HRW country. A 50.1% stock/use ratio isn’t helping either.