December 5, 2016
Producer Marketing Manager
Patron Meetings are going on today, tomorrow, and Wednesday. Click here to find the time and place for your WG location’s meeting.
CORN: As of 7:45 – Up 1-2
Overnight the corn market built on Friday’s gains and is just shy of the $3.50 mark on the March contract. Looks to be a fair amount of congestion in this area with the 20, 50, and 100 day moving averages all between $3.50 and $3.54.
SOYBEANS: As of 7:45 – Up 14
A surge back to the upside was the feature in soybeans last night despite decent precip in South America over the weekend. It looks to be led by a $5/ton gain in the soybean meal market. The 6-10 day forecast for Brazil features decent chances for precip. The Dec Supply and Demand report will be out this Friday at 11:00 am.
WHEAT: As of 7:45 – MPLS down 2, KC up 1
Wheat markets continue to their course……KC HRW contracts bumping lows and MPLS HRS contracts tickling new highs for the move around the $5.40 area. Export biz seems to still be anemic.