Morning Market Insight
08-11-14
Cutter Murray
Grain Marketing Specialist


Have you checked your bins lately?? Let us check them for you!! Contact your local grain marketing specialist or location to schedule a visit from our custom made probe truck!! Don’t forget to ask about our bin probe guarantees!


Corn as of 7:45- Up 1
Funds short 20,500 contracts. Weather patterns continue to improve over most of the corn belt.
USDA WADSE report Estimates for Tuesday.
U.S. Production bil/bu.
Average Range USDA July
Corn production 14.253 13.988-14.778 13.860
Yield bu/acre 170.098 168.0-174.8 165.3


Soybeans as of 7:45-up 5
Funds short 51,200 contracts. World demand remains strong as China just had a record import month.
USDA WADSE report Estimates for Tuesday.
U.S. Production bil/bu.
Average Range USDA July
Soybean production 3.823 3.700-3.951 3.800
Yield bu/acre 45.583 44.5-47.0 45.2

Wheat as of 7:45- MW Down 1 KC Down 2
Funds short 83,000 contracts. Wheat continues to deteriorate in Germany and Ukraine. It is estimated that 65% of the crop is feed quality and 35% is milling quality. Russia sanctioned food imports from the US and other countries. Political and military tensions are still unsettled. Duluth stocks declined 645,000 bushels from last week but remain 2.17 million larger than a year ago. Crop conditions report out today and the first harvest progress of the season for spring wheat.