Grain Marketing Specialist
Corn: As of 7:45- 1 higher
Corn managed to post a minimal gain on a technical bounce as well as supported by the announcement of 290,000 mt sale to unknown yesterday. Yield/production estimated continue to be mull over but it looks to safe to say the national ave. will likely be somewhere over the 170 mark given current crop ratings. Technically if we have found footing I look for resistance at 3.48Z and 3.60Z. Export sales reported at 331.1 for 15/16 and 896.3 for 16/17.
Soybeans: As of 7:45- 11 higher
Export sales announced of 256,200 to unknown and 440,000 to China looks to have helped stop the bleeding for the time being. These sales are primarily for 16/17. Export sales this morning reported at 542.2 for 15/16 and 1130 for 16/17. Yield estimates coming in north of 48 bpa which if reality would be equate to record production.
Wheat: As of 7:45- 2 higher
Spring wheat harvest chugs away as spill over strength from row crops led to a firm tone yesterday. Quality remains good with early proteins reported from 13-15 and everything in between. Exports sales reported at 326.5 for 16/17 and 44 for 17/18