January 28, 2014
Grain Marketing Specialist – St Lawrence
Corn as of 7:45-Down 1
Corn was fractionally mixed overnight as CH sees a 1 3/4 cent trading range; CZ sees a 1 cent trading range. Propane and Natural Gas supply issues could keep wet corn in the bins. Rosario Board of Trade says Argentina December drought could cause at least 50% production losses. Corn US export inspections 28.7milion versus 29.8 million last week.
Soybeans as of 7:45 - Down 2
Beans also a relatively quiet overnight as SH and SX sees a 6 cent trading range. Double crop beans in Argentina may not get seeded due to previously hot temps. Argentina farmers are slow sellers because of their peso collapse. Soybeans US export inspections 73.8million versus 56.6 million last week.
Wheat as of 7.45- MPLS up 1 KC up 2
Firmer winter wheat markets today-cold temps in the US worry to some traders. Canada farm ministry says Canada production may be down 20% this upcoming year on burdensome carryout caused by poor rail performance. Drought in Australia could impact seeding of the new crop in April/May. Wheat export inspections 14.0million versus 15.6 million last week.