Grain Marketing Specialist
Contact your nearest Grain Marketing specialist to get your targets in and working before Wednesdays WASDE Report.
Corn Down 2 as of 7:45
December corn closed the week off last week down 6 ¼ cents. Aside from political worries that may show up in outside markets, the corn harvest did better last week with warm temperatures and mostly dry weather that is expected to continue into this week. Wednesday's WASDE report is not expected to show much change in USDA's corn crop estimate, but with exports running up 74% from a year ago, there is plenty of room for the export estimate to be increased.
Beans Up 6 as of 7:45
January soybeans closed out the week down 21 ¼ cents. Even though soybeans saw more bullish export news last week, and Thursday's report showed soybean exports up 22% from a year ago, last week's trade was bothered by the chance that USDA will increase its soybean crop estimate again and by the uncertainty of Tuesday's election.
Wheat Minneapolis & Kansas City Down 1 as of 7:45
December Kansas City Winter Wheat closed the day up ¼ cent on the week while December Minneapolis Spring Wheat was down 14 ¼ cents for the week. Wednesday's WASDE report may see reductions in crop estimates for India, Canada, and possibly Australia, but none should be large enough to significantly change the bearish outlook for wheat. Texas is expecting beneficial rain the next seven days, but the rest of the southwestern Plains could use more as crops continue to enjoy a warm fall.