Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45: Down 1
Export Sales to be released this morning with trade expecting 43-55 for 16/17 corn. Full-season corn that has emerged in southern Brazil rated good; cool temps have slowed development so far. Ethanol grind: 980,000 barrels/day for week end September 30—down 0.9% vs. last week but 3.2% higher vs. last year. Monsanto raises increase in Argentine corn planting expectations with greater than 25% increase said possible.
Beans as of 7:45: Down 4
Export sales to be released this morning with trade expecting 44-55 mbu for 16/17 soybeans. Unseasonably mild pattern with below-normal rain occurs across the Corn Belt should see good harvest progression.
Wheat as of 7:45: MW-Up 3 KW Up 2
Export sales to be released this morning with trade expecting 15-22 mbu for 16/17 all wheat. Favorable wheat harvest weather is occurring in Brazil’s Parana state. Harvest is progressing with quality and yields reported as good. Australian sources talking about 29-30mmt crop after heavy rains over the last month.