Grain Marketing Specialist
Corn: As of 7:45- 2 lower
Relatively light news day for the corn market as turnaround Tuesday seemed to hold true this week. Harvest ramping up with a 5 day forecast favorable for progress. Trade anticipates quarterly stocks report release on Friday. Average trade guess of 1.754 bbu as of Sept 1.
Soybeans: As of 7:45- 5 lower
Soybeans found support early in the day yesterday settling 7 higher after trading a dime lower early. USDA announced a sale of 120,000 MT to China. Average trade estimate for stocks .200 bbu Friday. Better than expected yields seem to be common as some wonder if production could increase even more to balance out large demand. Brazil soybean plating under way roughly 2% complete with favorable planting forecast on the horizon.
Wheat: As of 7:45- 1 lower
Wheat bolstered by the announcement of a 300,000-ton sale to Morocco yesterday along with production and quality concerns in Australia. Ave. trade estimate for Fridays stocks report at 2.438 bbu.