Morning Market Insight
Grain Marketing Specialist
Come join us for our Grand Opening of the Kennebec Elevator Grand Opening tomorrow June 14th from 4-7 P.M. Tours will start at 4 and new tours begin every 15 minutes until 5:30. Complimentary meal to be severed at 5:30.
Corn as of 7:45- Up 12
USDA Crop Progress: Good/Excellent corn crop ratings could be steady v. last week’s 75%. Ratings last year were 73%.Export Inspections released at 10 AM CDT; Corn, 55.4 needed; 42.0 last week. Milo—4.0 needed; 2.6 last week. USDA on Friday increased U.S. 15/16 corn exports 100 mbu after a 3.5 MMT reduction in size of Brazil’s corn crop. Corn exports from Brazil also lowered by 3.5 MMT to 22.5, which is down nearly 12.0 MMT from 14/15.
Beans as of 7:45-Up 11
U.S. soybean planting estimates. 89-94% vs. 85% last year and 88% for the 5-year average. Export Inspections released at 10 AM CDT; Soybeans, 13.4 needed; 3.6 last week. World ending soybean stocks estimated to fall 12.0 MMT since end of 14/15; production only up 4.0 MMT.
Wheat as of 7:45: MN Up 4 KC Up 5
Hard-red winter wheat harvest 27% complete in Texas, 28% complete in Oklahoma, less than 1% complete in Kansas. Test weights running around 61.5-63 lbs/bu, with yields from Oklahoma to Kansas running 30-50 bushels per acre range. Protein are running in the 11% range. The nation's largest wheat producer, Kansas is expected to harvest 393.6 million bushels up 22 percent from a year ago.