Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45: Down 1
December 2016 corn futures on Friday closed at $3.49 ¼ versus $3.59 ¼ one year ago on December 2015 futures. Brazilian farmers reluctant to make forward contracts on this years crop due to the inability to deliver last year’s crop because of drought. Export Inspections released at 10 AM CDT; Corn, 43.0 mbu needed; 34.5 last week. Milo—5.3 needed; 4.6 last week.
Soybeans as of 7:45: Up 7
January 2017 soybean futures on Friday closed at $10.46. Last year January 2016 futures settled at $8.73. For the past month northern soybean areas of Brazil have been considerably wetter than normal .Export Inspections released at 10 AM CDT: Soybeans, 30.4 mbu needed; 98.0 last week.
Wheat as of 7:45: MW Up 1 KC Unchanged
December 2016 Minneapolis futures closed Friday at 5.27 versus last year December 2015 futures of 5.09. Kansas City December 2016 futures closed at 4.11 versus last year December 2015 futures of 4.50.A powerful system produces 1.00”-3.00” of rain across the eastern half of the U.S. Corn Belt, Delta and Southeast through Thursday, alleviating drought in the SRW wheat belt. Export Inspections released at 10 AM CDT: Wheat, 17.9 needed; 15.8 last week.