April 18th 2014
Grain Marketing Specialist
There are no markets today due to Good Friday
Wheat Growers would like to wish everyone a safe and Happy Easter
Trade will resume Sunday night at 7 PM
Corn spent the week looking like a market that needs fresh news trading a narrow range of 12-15 cents for the week. Export sales yesterday were less than stellar but still more than needed to meet USDA estimates. USDA did announce the sale of 125,000 tonnes to South Korea yesterday. Forecast looks to be conducive to planting next week for most. Weather being the main focus for the immediate future. USDA planting progress will be released Monday at 3 pm
Soybeans showing another week of life as May settled 51c higher after losing 5 yesterday. Export sales were light but still not the cancellations needed. Yesterday sell off looks to be attributed to profit taking and fears of Chinese cancellations. Funds estimated sellers of 3000 contracts on Thursday. Favorable corn planting could add support to soybeans.
Concerns over the US HRW crop and continued tension between Ukraine/Russia help sent the wheat market 30+ cents higher for the week across the complex. Solid export sales also support things yesterday as well. There is some forecasted rain for parts of HRW areas but looks to be limited. USDA crop ratings will be released Monday 3 pm