Grain Marketing Specialist
Corn Up 1 as of 7:45
March corn closed the day up 3 ¾ cents and December corn closed the day up 3 ½ cents, support from commercial buyers helped add bullish support. South American weather looks to be mostly the same for corn this week with a few areas of concern. Export inspections out early yesterday morning put corn inspected last week at 25.1 million bushels, the lowest total in 6 weeks, and the 4th lowest of the marketing year.
Beans Up 3 as of 7:45
March soybeans closed down 9 cents yesterday, back below $10.00 and at their lowest price in six weeks. USDA said Tuesday that 58.0 million bushels of soybeans were inspected for export last week. Weather forecasts in South America are seen as mostly favorable with just a few small areas of concern.
Wheat Minneapolis Unchanged & Kansas City both Up 1 as of 7:45
March Kansas City Winter Wheat closed down 4 ½ cents yesterday and March Minneapolis Spring Wheat closed the day down ½ cent. Weather for winter Wheat areas look pretty uneventful for the wheat belt, but dryness may start to become a concern with the mild temperatures in the west, and cold weather this week could cause some damage.