Morning Market Insight
Grain Marketing Specialist
Corn: as of 7:45-Up 2
Good exports numbers yesterday with corn at 38.5 mbu. China continues to buy and build corn stocks for state reserves. Ukraine exporting continues uninterrupted.
Beans: as of 7:45-Up13
Export inspections came in at 34.5 mbu. Brazil is now past the half way mark in their efforts to harvest an enormous crop, and with China trying to sell some of their soybean reserves into the market.
Wheat: as of 7:45- SW & WW Up 3
Weekly export inspections of 18.2 mbu were within trade guesses, but falling short of the 23.7 mbu needed to reach USDA year-end objectives.US state by state winter wheat ratings show a crop that is struggling somewhat early in the growing season KS is rated 36% G/e, OK is 18%, TX is 13%. Market still concerned with Black Sea politics.