July 5th, 2013
Grain Marketing Specialist
Corn as of 8:00 a.m. Sep. unchanged Dec. unchanged
The weather pattern through July 18th is viewed as good. This will keep pressure on the corn market. Ethanol production numbers seen Wednesday put ethanol at 863,000 as supplies tighten and gas prices keep falling. Export numbers this morning has 233,000 tons vs. 19,000 tons this time last year. Well ahead of the 81,000 needed to make USDA’s export predictions.
Soybeans as of 8:00 a.m. Aug. unchanged to higher Nov. unchanged to higher
Export numbers down this morning with only 120,600 shipped versus 298,000 last year. This is still ahead of the 62,000 tons weekly to make USDA’s predictions. South America is still having issues loading boats. Tight supplies will keep the old crop market interesting as we go through these summer months. Processers will be looking for beans. New crop worries stem on how many more acres will get planted. Weather is seen as favorable.
Wheat as of 8:00 a.m. SW. unchanged WW unchanged
Export sales this morning for wheat at 593,000 versus 419,000 tons last year. China is actively buying wheat. Indian wheat crop seen lower than what USDA predicted. Feeders are actively buying wheat. Harvest weather seen as favorable. Yields not as bad as once thought with reports out of Kansas of 60-70 bu per acre.