Grain Marketing Specialist
Corn: As of 7:45- 2 lower
Path of least resistance this morning seems to lower as we await tomorrow’s USDA report. Little changes expected but stay tuned none the less. Adequate supplies still hang over this market and really all the grains these days. NC corn/ bean ratio suggested a shift from corn to beans but also realizing the US farmer inherently likes to plant corn and spring weather may influence that as much as anything. One suggestion I would make is that if price is driving your planting intentions you may be well served in protecting that price.
Soybeans: As of 7:45-6 lower
Soybeans continue to be an Argentine weather play. Little to no moisture forecasted for the next couple of days but the 6-10 day appears to look more promising. Stay tuned as forecast that far out have a tendency to change… Calls lower this morning as a result.
Wheat: As of 7:45- 1-3 lower
Dryness in Kansas expected to affect HRW ratings this afternoon but ultimately a 50% + stock/use ratio keeps traders from getting too excited as KC wheat putts in another new low overnight while MW lows from Friday seem to have held for now.