Grain Marketing Specialist
Member meetings for the proposed unification between South Dakota Wheat Growers and North Central Farmers Elevator have been scheduled, check with your local Grain Marketing Specialist for dates and times on those meetings.
Corn Unchanged as of 7:45
September corn closed the day down 2 ¾ cents, and December corn closed down 2 cents on Wednesday. This is the third day in a row that December corn has reached new lows in 2017. Weekly ethanol production came in up 47,000 barrels per day at 1.059 million barrels and is the 2nd highest production in history. Ethanol stocks also increased 500,000 gallons.
Beans Up 5 as of 7:45
September beans closed the session unchanged and November beans closed in the green yesterday up 1 cent. Favorable weather forecasts continue to be the bear in the bean market. August is crucial time for moisture in beans as they are filling pods The precipitation forecast through the weekend calls for over an inch of rain across many regions of Nebraska and Iowa, which will surely welcome it while they are still classified as D1 or D2 drought on the U.S. Drought Monitor.
Wheat Minneapolis Down 1 and Kansas City Unchanged as of 7:45
September Minneapolis Spring Wheat closed the day up 15 ¼ , and September Kansas City Winter Wheat closed down 7 cents Wednesday. September Minneapolis Spring Wheat got a little help in the way of harvest delays due to moisture in the Northern Plains, although the forecast looks to be favorable for harvesting for the next week to 10 days.