Dec 19, 2016
Grain Marketing Specialist
Corn: 2-3 Lower
Corn was lower on the overnight session, in sympathy to the bean market. Most contracts were down around a penny. Corn inspection last week were disappointing but export sales were strong again. Ethanol margins jumped last week from around .30 to close to .60. The US $ continues to perform well.
Soybeans: 5-8 Lower
With a favorable forecast down in Argentina, spurred the bean complex lower this morning. Nearby markets were down around 9 and Nov down 4 3/4. We also saw the possibility of slowing demand in palm oil as it was down 19. Good inspections last week as well but we continue to see a decline every week. Also another strong week for exports last week.
Wheat was mixed on the overnight session with the nearby months for Minny trading down around a penny. But KC was the leader as it was up 3. Traders are concerned over the colder weather and winter kill for the Kansas crop. Wheat inspection last week were so-so.