11-21-16
Brad Olson
Grain Marketing Specialist

 


Corn: As of 7:45-1 higher

Corn market being supported the end of last week into today by better export sales, despite lower export inspections along with fund short covering. Harvest comes to an end for most all. Now onto the task of figuring out just how large this crop is. Technically modest daily gains over the last couple of sessions have turned momentum higher for now.


Soybeans: As of 7:45- 10 higher

Large export inspections and sales announcement 4 of the 5 days last week helped keep soybeans buoyant. Export inspections running well above pace but movement tends to slow in the months ahead when SA beans tend to displace US in the world market. SA weather looks favorable for planting and development right now.


Wheat: As of 7:45- 1 higher

Solid week for the wheat complex last week as all 3 trades settled in positive territory. MWZ leading way 9 ¼ higher. Supported largely by a troubled Ukrainian crop and ideas of lower protein in Australia. US winter wheat acers expected to decline. Technically this market appears to have gained some minimal momentum higher while still trading well within range we have been in for the last couple of months.