Grain Marketing Specialist
Wheat Growers Winter Marketing Meetings featuring Advanced Trading (ATI) are coming up. Speak with your nearest Grain Marketing Specialist to RSVP.
The next USDA Supply and Demand Report is next Thursday March 9th
Corn Up 1 as of 7:45
Corn closed the day down 2 ½ cents in the May contract and 2 ¾ in the December contract. Export sales out yesterday morning put corn sales 27.3 million bushels and 59 million bushels, which was under expectations and the 4th lowest sales of the year. Brazil safrinha corn crop is said to be 57% planted which is 16% behind last years pace.
Beans Up 2 as of 7:45
May beans closed the session yesterday down 14 ½ cents and November futures closed down 10 ½ cents. Soybean export sales totaled 15.7 million bushels and 36.3 million bushels, the 4th lowest sales total of the year, which is usual for this time of the year. Rains forecasted across northern Brazil over the next two week’s will likely slow soybean harvesting.
Wheat Minneapolis Down 1 and Kansas city Down 2 as of 7:45
Minneapolis Spring Wheat closed down 8 ½ cents in the May futures contract and May Kansas city Winter Wheat closed down 7 cents. Weekly export sales on wheat totaled 16.6 million bushels and 13.0 million bushels, which was above the 9.2 million bushels needed to remain on pace with the USDA’s February demand projection. The