Morning Market Insight
Grain Marketing Specialist
Corn as of 7:45 Down 5
The USDA will release the WASDE report this Friday @ 11:00 AM. The average trade guess for Corn carryout is 1.307bbu down 24mbu from April report. Ethanol margins have fallen hard this week. Export Corn sales of 161,300 vs 116,000 last year.
Soybeans as of 7:45 Up 4
Average trade guess for tomorrows old crop carryout report is 133mbu down 2mbu from April. Trade expectations for 14/15 carryout are between 250-300mbu. Export Soy sales of 40,800 vs 193,000 last year.
Wheat as of 7:45 WW+SW Down 6
Average trade guess for tomorrow report is 568 mbu for 14-15. Old crop wheat sales of 320,000vs 239,000 last year. New crop sales of 125,000 vs 226,000 last year.