Nov 29th 2013
Grain Marketing Specialist
Trading Hours are from 8:30 a.m – 12:00 p.m. cst today. Normal trading hours will resume Sunday night.
Corn: 2 higher
Corn posting modest gains in all months except the Dec on corn/bean spreading. Surprising the Z/H spread weaken 3c on the eve of first notice day. Thoughts of a large crop still lingering along with concern over Chinese GMO rejection with several boats still in transit. Ethanol production at 927,000 barrels per day. Export sales a solid 1.01Mt on the higher side of estimates of 800- 1.1.
Soybeans: 3 higher
Profit taking and corn/bean spreading pushing beans lower later in the session Friday. USDA announcement of 235,000 sold to unknown wasn’t enough to keep the sellers at bay. SA crop conditions will be watched carefully in the days to come as well as their ability to load in a timely manner. Export sales at a stout 1,410 for 13-14 and 364.9 for 14-15 exceeding expectations at 700-1,300.
Wheat: 5 higher
Wheat closed stronger Wednesday on strong export demand and some concern of US winter wheat winter kill. Egypt bot 65,000 tonnes of French wheat. Funds short 56,000 of Chi wheat. Export sales this morning 562.2 within the range of estimates of 375-625.