08/11/16
Morning Market Insight
Cutter Murray
Grain Marketing Specialist

Corn as of 7:45: Up 1
Futures have been trading sideways for the last 7-days, about five cents above the contract low. Export Sales to be released this morning with net sales of 594,900 MT for 2015/2016 were up 80 percent from the previous week and 34 percent from the prior 4-week average. Sorghum: Net sales of 60,400 MT for 2015/2016. The five-year average shows approximately 9% U.S. corn matures to dent stage from August 7-14; would put 2016 at 18%. Ethanol grind: 1,018,000 barrels/day for week end August 5—up 1.4% vs. last week and 5.5% higher vs. last year.


Beans as of 7:45: Unchanged
Export numbers released this morning with net sales of 308,000 MT for 2015/2016. Meal with net sales of 47,900 MT for 2015/2016 were down 36 percent from the previous week and 57 percent from the prior 4-week average. Soybean Oil: Net sales of 11,400 MT for 2015/2016 were down 35 percent from the previous week and 49 percent from the prior 4-week average.

Wheat as of 7:45: MW-Up 2 KW Up 2
Export numbers released this morning net sale of 607,600 metric tons for 2016/2017 were up 86 percent from the previous week and 49 percent from the prior 4-week average. The increased exports are largely due to the EU crop which continues to dwindle. Private estimates are now calling for less than a 30mmt French crop. Russian crop is huge with 70mmt expected. Australian exporters are reportedly seeing a spike in business with August shipments expected to be 8-month highs.