June 28, 2013
Producer Marketing Manager
Join us this afternoon and evening in Aberdeen as we celebrate Wheat Growers 90th year of proudly serving its owners throughout the Dakotas! Oh yeah, and we have the June Quarterly Grain Stocks and Planted Acreage report out at 11 am today. Should be a fun and busy day!
Corn: As of 7:45 – Nearby Steady, NC Down 2
Again, the focus is on this morning’s report…… June 1 stocks – estimates average 2.845 billion bushels AND Planted Acres – average guess is 95.313 million acres. Volatility has been the norm for report releases lately…….do you have your target orders in and working??????
Soybeans: As of 7:45 – Up 1
Beans continued their push yesterday as they closed up 7 cents on the August contract as processor bids continued to firm. Numbers to watch this morning: Average Stocks estimate is 442 million bushels and planted acreage is estimated at 77.93.
Wheat: As of 7:45 - MPLS Up 2, KC Up 3
It’s the end of an era today in Kansas City as it is the last day for trading Hard Red Winter Wheat on the floor of the KCBOT. Starting Monday this will all transition to the CBOT in Chicago. On the report this morning Corn and Beans will steal most of the thunder however keep your eyes peeled for the USDA to put a number on the Spring wheat acres that are planted (or not planted). Some in the trade think the loss of acres could be close to 1 million. Average guess is 12.132 million acres. Keep an eye on this one if we are below 11.7.