Grain Marketing Specialist
Corn: As of 7:45- 4 lower
Planting wrapping up and generally good crop conditions gave way to fears of hot/dry weather yesterday along with spill over support from soybeans. CN6 traded to a level we have not seen since July 15. % day forecast looks to be warm and dry with the 6-10-day remaining warm with normal type moisture for the eastern corn belt and drier in the west. Export sales this morning at a solid 1560 for 15/16 and 120.4 for 16/17
Soybeans: As of 7:45-steady to 2 lower
A sale of both 15/16 and 16/17 soybeans to China along with fears over hot/dry conditions had spec fund money adding to their long position yesterday. Planting expected to wrap up this week. USDA report out tomorrow at 11 pm cst expected to increase export estimates. SX6 closing higher for the 4th straight day. Export sales at 44.3 for 15/16 and 136.7 for 16/17.
Wheat: As of 7:45- 4 to 6 lower
Concerns about excess moisture effecting the French crop along with spillover support from row crops had both KWN and MWN testing April highs. At the end of the day both global and domestic stocks look adequate and we are now into what looks to be a large HRW harvest. Little change expected for tomorrows report. Export sales this morning at 23.8 for 15/16 and 223.8 for 16/17.