Morning Market Insight
Grain Marketing Specialist
Happy St. Patrick’s Day
Corn As of 7:45- Down 7 cents
May 2014 corn futures closed at $4.86 on Friday. A year ago, the May 2013 corn contract closed at $7.16 ½ Reports indicate China may stockpile 60 mmt of corn perhaps by the end of April. Estimated stockpiles of 54.66 mmt as of now which is a sign of lower domestic demand.
Soybeans As of 7:45- Down 8 cents
May 2014 soybean futures closed at $13.88 ½6 on Fri. A year ago, the May 2013 soybean contract closed at $14.35 ½ Export Inspections released at 10 AM CDT; Soybeans, 5.4 needed; 39.7 last week.
Wheat as of 7:45- SW Down 4 cents WW Down 4 cents
Export Inspections released at 10 AM CDT; Wheat, 23.3 needed; 15.8 last week