December 6, 2013
Producer Marketing Manager
The December USDA Supply/Demand report is due out next Tuesday. (See the trade estimates in the table below)
CORN: As of 7:45 - Steady
A rather choppy session on corn yesterday as we traded both sides of unchanged. The corn market shook off the poor export sales early, but gave back its gains into the close. Funds added to their short position to the tune of 4000 contracts. Trade estimates for next week’s WASDE report are for larger exports and a slightly tighter ending stock picture at 1.871 billion bu.
SOYBEANS: As of 7:45 – DN 7
A quick reminder on DP……WG is now offering FREE DP on new deliveries of soybeans. Similar to the corn market, bean futures were back and forth yesterday. Dismal export sales also weighed on futures. Most market participants are anticipating more exports, more crush and tighter ending stocks to the tune of around 150 million bushels. We finished at 141 last year.
WHEAT: As of 7:45 – MPLS and KC Steady
Extreme & potentially record setting cold temps will set in over a large portion of the U.S. this weekend. Patchy winterkill is expected to occur in several areas, particularly stretches of KS & NE where snow cover is absent. The large Canadian number will most likely push world supplies larger….
Reminder……Patron Meetings are next week Click Here for a schedule to find the one nearest you.