January 14th 2014
Drew Johnson
Grain Marketing Specialist

Tomorrow, January 15th, is Wheat Growers Annual Meeting. It will be at the Crossroads Hotel in Huron. Registration starts at 9:15 am. Meeting begins at 10 am.

Corn
As of 8:00am Mar. 3 lower, Dec.’14 3 lower

Corn is down after holding its own during yesterday’s trade. Export inspections yesterday were at 20.9 million bushels. Most expected it to be in the range of 21 – 28 million bushels. Resistance levels have been reached. We need to have a good close above $4.33 futures to keep this thing going. The next resistance level is at $4.50 futures.

Soybeans
As of 8:00am Mar. 1 higher, Nov. ’14 is 2 lower

Soybeans are a little higher this morning. The market is inching closer to the $13 futures mark. Export inspections yesterday were at 59.4 million bushels, China accounted for about three quarters of it. USDA announced a sale, to China, of 5.1 million bushels of soybeans. Argentinean weather is expected to be dry this coming week. Resistance for soybeans is at $13. If we can close above that we will go to $13.40 futures.

 

Wheat
As of 8:00am Spr. Wheat 2 lower and Win. Wheat 2 lower


Wheat is still heading lower this morning. Export inspections were ok at 25.2 million bushels. Weather in the winter wheat country of the US is dry for the next 6-10 days. Wheat has been heading down since October. It’s anybody’s guess where the bottom of this abyss is?







Wheat is still heading lower this morning. Export inspections were ok at 25.2 million bushels. Weather in the winter wheat country of the US is dry for the next 6-10 days. Wheat has been heading down since October. It’s anybody’s guess where the bottom of this abyss is? As of 8:00am Spr. Wheat 2 lower and Win. Wheat 2 lowerWheat