8-13-14
Cutter Murray
Grain Marketing Specialist

Is your wheat harvest wrapping up? If so call local grain marketing specialist or location today and schedule a bin probe visit. You will receive an analysis of your grain quality, along with a customized marketing proposal for each bin based on the analysis of the grain sample. It’s a simple, effective way to make better marketing decisions based on a more thorough knowledge of your inventory.

Corn as of 7:30- UP 1

USDA did not go along with trade ideas that nationwide yields will average in the 170s, and instead raised their expectations by only 2.1 bpa to 167.4. Ending stocks projection for 14/15 increased by only 7 mbu to 1.808 bbu and that is well behind most trade estimates that were looking for something north of 2 billion.

Beans as of 7:30- UP 6

A slight 0.2 increase in national average yields resulted in a small bump in production, and that bump dropped down to the ending stocks line and ended up at 430 mbu. If realized, that’s a huge carryout number for beans and the market reacted negatively and scored a new contract low at 1043 November Futures.

Wheat as of 7:30-MW UP 1 KC UP 3

Minimal changes to the US crop size, with the biggest increase in production coming from HRW. The HRS carryout for 2014/15 is now pegged at a 5-year high of 210 mbu vs 169 mbu in 13/14. World wheat production was pegged at a record 716 MMT and world carryout is now at 193.0 MMT vs 189.5 last month and 184.0 MMT last year.