11/2/17
Morning Market Insight
Cutter Murray
Grain Marketing Specialist

Corn as of 7:45- Up 1
Corn has a 3 ½ cent trading range on the overnight. Private estimates peg corn yield at 173.7bpa nearly 2bpa from the USDA’s 171.8bpa. Domestic demand remains strong with livestock and ethanol usage. Exports sales of 39 million bushels on the bottom end of expectations.

Beans as of 7:45: Up 4
Beans trade in a range of 8 cents on the overnight. US bean yield is expected to come in close to 49.9bp with production at 4.467bb vs USDA in Oct at 4.431bb. Export sales came in this morning at 72.3 million bushels. Trade was expecting 53-68 million bushels. USDA report on Chinese soybean demand for 17/18 soybean imports are forecast to set another record at 95 MMT, up from the 93.5 MMT in 16/17. Brazilian customs agents going on strike.

Wheat as of 7:45: KW Up 4 MW Up 4
Minneapolis Wheat trades in range of 3 ½ cents on the overnight while Kansas City trades in 5 cent range. Trade was expecting 9-17 million bushels of exports this morning and they came in 12.8 million bushels. US wheat production came in the lowest in 15 years and forecasted to dwindle even more next year as poor seeding conditions in Kansas and low wheat prices.