Morning Market Insight
Grain Marketing Specialist
USDA WASDE REPORT out today @ 11 am CST. Do you have your targets in?
Corn as of 7:45: Unchanged
Overnight trade keeps corn trading in a 2 cent range. Average trade guesses for carry out in today’s report comes in at 2.312bb. Some estimates have South American corn production to be down nearly 680 mbu from last year. CONAB lowered their corn production estimate to 87.279mmt from 88.006 in February. Ethanol production was up again week on week and overall remains strong if it holds current pace should eclipse the USDA total corn usage for ethanol at 5.525billion bushels.
Soybeans as of 7:45: Down 2
Beans overnight trade in a range of 7 cents. Trade guesses for todays report on carryout comes in at 53 million bushels. CONAB raises Brazil soy production to 113.024mmt, up from 111.558mmt in in February. Argentina bean pods filling would a rain sure would do wonders right about now.
Wheat as of 7:45 MW -Up 1 KC- Unchanged
Forecast for the plains remains dry for next 7-10 days. Extreme drought still persistent in southern Kansans Oklahoma and northern Texas. Trump tariffs what affect will that have? If you’re still sitting on wheat from years back take the guess work out of figuring what you really have by contacting your local grain marketing specialist and schedule a visit form out bin probe truck. Don’t forget to ask about our bin probe guarantee.
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