Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- Up 3
Corn trading higher this morning with crop condition ratings this afternoon most expecting a 1% decline. Brazil's Mato Grosso corn crop estimate raised to 30.45m tons from 29.5 in July. Motto Grosso corn harvest is all wrapped up. Lower than normal temps forecast for the upcoming week with lows in the 40’s some areas will see some 30’s.Mike Cordonieer expert crop scout leaves his US corn yield at 166bpa. Vietnam has lifted ban on US distillers. South America is nearing record exports.
Beans as of 7:45: Up 9
Bean crop conditions expected to decrease this afternoon. Cordonieer pegs the US soy yield at 48bpa. Early frost concerns with nearby forecast. The U.S. environmental agency is considering banning sprayings of the agricultural herbicide dicamba after a set deadline next year, according to state officials advising the agency on its response to crop damage linked to the weed killer.
Wheat as of 7:45: MW- Up 2 KW- Up 6
Ukraine’s UkrAgroConsult raises its 17/18 export projection, and also raised its wheat production estimate to 26.6mmt. Up One from last estimate. Russian crop keeps growing as well. North Dakota harvest still under way with delays from sporadic rains.