Grain Marketing Specialist
Corn: As of 7:45- steady to 1 lower
This market remains uneventful as we work through hit or miss harvest activity and sporadic yield reports as we await Thursday’s USDA S/D numbers. Forecast look open in the west for harvest progress with above ave. moisture in the east. Harvest progress report delayed until tomorrow at 3. Technically momentum indicators are giving no clear direction as we chop around looking for production idea’s either from the field or USDA.
Soybeans: As of 7:45- 2 lower
Like with corn we are in wait in see mode for Thursday. Weekend harvest activity was limited to right here at home in the Dakota’s. Estimates expected to show an increase of production and ave. yield around 50 bpa. Chinese back from holiday this week and expected to be active. Technically this is a market in need of some new fundamental news.
Wheat: As of 7:45- steady to 2 lower
Planting progress expected to be a little light but moisture seen as beneficial to wheat ratings. Burdensome stocks expected to solidify in Thursday’s WASDE report. The bulls continue hold out hope for some sort of production hiccup that just doesn’t seem to want to happen.