Brad Olson
Grain Marketing Specialist
7-7-17

 

Corn: As of 7:45- 3 higher

Weakness in the wheat complex along with a surprising increase in ratings kept corn on the defensive all day before settling modestly lower. 6-10-day forecast remains hot and dry, particularly in the west. Drought monitor increasing covering basically all the Dakotas and into Nebraska. EIA report at 1014bpd which nothing to shocking. Informa releasing production estimates of 167.7 bpa and a total production of 14.166bb. Export sales delayed to this morning out at 140.3 for 16/17 and 74.5 for 17/18


Soybeans: As of 7:45- 4 higher


SX7 pushed through the $10 mark yesterday before settling just below. The persistent dryness in the west adding some risk premium to this mark as well. Informa estimates out yesterday at 47.9 bpa and 4.253bb total production. Export sales this morning at 365.5 for 16/17 and 73.2 for 17/18


Wheat: As of 7:45- Spring- 14 higher, Winter 2 lower

Wheat mark experiencing another volatile day yesterday posting large losing across all 3 trades. It’s being described as a correction or profit taking as really not much has changed on the fundamental front. Below is Sep KC chart showing support filling the gap at 5.29. Export sales this morning out at 375.3 for 17/18