Morning Market Insight
Grain Marketing Specialist
Don’t let your marketing take a back seat to harvest. Talk to your local grain marketing specialist and have your targets working wile u do.
Corn as of 7:45: Unchanged
Corn Mature stage pegged at 86% vs. 82% for last year & 79% average harvest at 24% vs. 24% last year & average of 27%. Good/Excellent of 73% is down a point vs last week. Sorghum: Harvest at 41% vs 41% last year & 36% average. U.S. corn balance sheet; 16/17 carryout estimated at 2.378 bbu. U.S. sorghum balance sheet; 16/17 carry-out pegged at 57 mbu.
Beans as of 7:45: Down 5
USDA pegs U.S. soybean dropping leaves at 83% vs. 82% last year and the average of 79%; harvest at 26% vs. 36% in 2015 and the 5-year average of 27%. Good/Excellent crop ratings of 74% are up a point vs. last week and above 64% in 2015. U.S. soybean balance sheet; 16/17 carry-out is estimated at 337 mbu.
Wheat as of 7:45: MW-Up3 KC Down 3
Wheat was forgotten in the rally yesterday as large supplies and a stronger dollar U.S. SRW wheat balance sheet; 16/17 carryout projected at 154 mbu compared to 157 last year. Rains fall across the heart of the Argentina wheat crop; 0.75” to 1.50” amounts. Minneapolis December futures have rallied .39 cents since October 1st.