Grain Marketing Specialist
Fall harvest is right around the corner! Contact your nearest Grain Marketing Specialist to discuss our different contracting options and grain programs.
Corn Down 4 as of 7:45
December corn closed the day yesterday down 1 ½ cents after USDA reduced its estimate of the 2016 corn crop from 15.15 billion to 15.09 billion bushels. Yield was also pegged at 174.4 bushels per acre vs. last months’ 175.1. Export inspections for last week were .720mmt vs .500-.700mmt estimated. Late Monday Crop Conditions Report put corn conditions at 74% good to excellent no change from the previous week.
Beans Down 7 as of 7:45
November beans closed the day Monday down 16 cents after the WASDE report came out with a higher than expected soybean crop estimate of 4.2 billion bushels, with a 50.6 bushel per acre record projected yield. The fundamental outlook for beans remains neutral but harvest pressure may keep the market fairly bearish before demand can come into play. Crop Conditions out late yesterday put soybean conditions unchanged at 73% good to excellent.
Wheat Minneapolis Up 1 Kansas City Up 6 as of 7:45
The wheat market ended the day in the green yesterday as the WASDE report was fairly uneventful for the wheat market. December Minneapolis Spring Wheat closed the day up 1 ¼ cents and Kansas City December Winter Wheat closed up 6 ¼ cents. Crop conditions out yesterday put Spring wheat at 94% harvested, and Winter Wheat seeding at 26%, up one percent from the five year average.