Grain Marketing Specialist
Corn Down 8 as of 7:45
September corn ended the day up 4 ¾ cents on Monday, with help from a generally dry looking forecast for the week. The December contract ended the day up a nickel. USDA’s Crop Conditions report put US corn at unchanged ,76% good to excellent. South Dakota showed another 4% decrease in conditions yesterday to round the week off at 63%.
Beans Down 15 as of 7:45
August beans closed the day out Monday up 5 ¾ cents, while November beans ended the session up 9 cents with help from a drier forecast for the week, and resurgence of commercial buying in new crop soybean meal. As for crop conditions US beans were also unchanged on the week at 71% good to excellent. South Dakota showed a 3% decrease on the week with North Dakota a close follower at 1% down.
Wheat Minneapolis Down 4 Kansas City Down 6 as of 7:45
September Minneapolis Spring wheat ended the day up 1 ¼ cents on Monday. USDA’s Crop Progress report yesterday put US Spring wheat at 69% good to excellent. South Dakota was dragged down 6% to a 44% good to excellent rating. September Kansas City Winter Wheat closed out the day Monday up 6 ¼ cents. Texas, Oklahoma and Arkansas were said to be completed with Winter wheat harvest in yesterday’s USDA Crop Progress report. As for the whole US, 76% of the winter wheat is said to be harvested at this time, and with hot dry weather forecasted for the western plains we should see that number continue to increase at a rapid pace.