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 futures closed Thursday down 2 cents and December corn futures closed down a touch more at 2 ¼ cents. Thursday's updated U.S. Drought Monitor showed a patch of extreme drought in South Central IA for the first time this year this area was also missed by Wednesday's rain. USDA said last week's export sales and shipments of corn totaled 2.5 and 27.4 million bushels, bullish enough to put total shipments up 23% from a year ago with three weeks left in the 2016-2017 season.
Beans Unchanged as of 7:45
November beans closed the day yesterday up 7 ¾ cents, helped by strength in soybean meal and oil on a relatively quiet trading day. Last week's export sales and shipments of beans totaled 16.7 and 27.3 million bushels respectively, neutral-to-bullish amounts which have total shipments up 17% in 2016-17 -still above USDA's estimate for an 11% gain in exports. The western Midwest has gotten moisture this week that will be very beneficial to pod filling soybeans, but the trouble areas of Iowa continue to be missed by moisture.
Wheat Minneapolis Up 5 and Kansas City Up 2 as of 7:45
September Minneapolis Spring Wheat closed out the session yesterday down 3 ¼ cents. September Kansas City Winter Wheat closed down 5 ¼ cents Thursday. Early Thursday, USDA said last week's export sales and shipments of wheat totaled 23.3 and 20.1 million bushels respectively, a neutral-to-bullish combination which has total shipments up 17% from a year ago after ten weeks in the new 2017-18 season.