Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45- unchanged
Demand is good for US corn dryness in the western part of the US Midwest provided underlying support as well. Rail logistics are still poor and it could be quite some time before things get better. Ethanol plants running at reduced capacities while waiting for freight.
Do you have your target in????
Beans as of 7:45-up 14
Beans trading higher on tight stocks, strong demand, and lack of Chinese cancellations. Monday’s export inspections were well over what is needed to reach the USDA target. NOPA Crush for Jan was 141 million bushel-more than the trade was thinking (138mb) but far less than last year at this time (156 mb)
Wheat as if 7:45-MW unchanged KC down 2
U.S. forecast remain cold for the 6-10 day, with changeable temps before that
and slightly moderating temps after also; there’s still no major precipitation events
seen for the HRWW areas. Ukrainian uncertainty continues to underpin the market