Aug 12th 2013
Grain Marketing Specialist
11 a.m. CST USDA will release S&D data- will update shortly after.
Corn: As of 7:45- oc 1 lower, nc unchanged
Friday gave us a slide ways trade before settling lower and Dec putting in a new low of 4.52 positioning ahead of today’s USDA S&D report being released at 11 a.m. cst. Funds short 53,000 which are less than expected. Average estimates for today’s report have corn production at 13.980, yield at 157.721, and carry out at 1.971.0, world carryout is at 151.09. All of which are higher than the July numbers.
Soybeans: As of 7:45- 12 higher
Friday soybeans opened higher before drifting lower posting 2c lower for the Nov contract. As in corn the focus will be pre report positioning. Funds long 68,000 contracts of soybeans. Average estimates for today’s report have US production at 3.338, yield at 43.472, and carryout at .263, world carryout at 73.591. All of which are lower than the July numbers.
Wheat: As of 7:45- 1 lower
Wheat following corn and also positioning ahead of today’s report traded mixed to lower Friday. Forecast does look a little drier favoring spring harvest. Average estimates for today’s report have all US wheat production at 2.112, carryout at .573, and world carryout at 171.838. All of which are slightly lower than July numbers.