Friday Dec 30th 2011
Brad Olson
SDWG Grain Originator
 

Due to the New Year’s Holiday the grain markets will not be open Monday and Monday night the 2nd. Trading will resume 9:30 Tuesday morning. 
 

Wheat Growers wants to wish you and your family a Safe and Happy New Year!
 

Corn- 5 higher
 

Grains under pressure all day as moisture started to work into the South American forecast.  Weekly ethanol production reported at a very aggressive 962,000 barrels leading many to believe that we will see an increase corn for ethanol use in the Jan 12th USDA report. A weaker dollar and end of the year buying has corn called higher this morning.  Export sales this morning for the week at 354.4 vs estimates of 400-600 and 952.9 last week.

 

Soybeans- 3 higher
 

Soybeans setting back yesterday on South American moisture and ideas of slowing demand adding to US stocks.  . End of the year buying has soybeans called higher this morning.  Export sales this morning for the week at 662.7 vs estimates  of 300-600 and 728.4 last week. All three of my technical indicators remaining bullish with the first level of resistance for Mar soybeans at 12.19.

 

Wheat- 3 higher
 

Estimates cutting Ukraine wheat exports for 11/12 has wheat looking a little better this morning. All three of my indicators remain bullish both KC and Minneapolis wheat.  Export sales this morning for the week at 431.2 compared to estimates of 200-350 and 362.3 last week.