October 19, 2012
Grain Marketing Specialist
As of 7:35am Dec. 6 higher. Dec ’13 unchanged.
Corn values pushed higher yesterday with traders becoming a little more relaxed with the new coming Dodd-Frank rules. Informa will estimate new crop 2013 projected acres mid morning. Possible 1.5 million more corn acres for the 2013 growing season. That and plateauing ethanol could see this market become more bearish. Numbers will follow this morning’s Informa Report.
As of 7:35am Nov. 2 higher. Nov ’13. 3 higher.
Soybean values also rebounded some more yesterday on renewed Chinese buying interest. Informa out this morning with planting predictions for 2013. These numbers could have traders ponder the effect, baring normal weather, it will have on the 2013-14 season. There is still concerns over what the US old crop situation will be come this spring. We wait and watch the report.
As of 7:35am Spr. Wheat 5 higher. Win. Wheat 8 higher
Big news in the wheat markets this morning with Ukraine banning grain exports. Wheat sales were up compared to what they were this time last year. Still exports as a whole are down versus this time last year. Russia predicting the possibility of a 60mmt wheat crop. That number is up from 38mmt last year and 58mmt two years ago. Early planting conditions are being reported favorable versus last year for Russia and Ukraine. US winter wheat area is remaining dry. Wheat values will continue to follow row crops.