Morning Market Insight
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 7:45- Unchanged
Weekly export sales of 117,100 MMT.Weather patterns remain mostly favorable for the major growing areas. Ethanol blending demand remains strong. Corn export sales estimate at 4-8 million bushels old crop and 20-28 million bushels of new crop.
Beans as of 7:45- UP 4
Weekly export sales of 64,400 MMT. Yesterday’s close was less than 4 cents away from contract lows for Nov14 beans. The weather models show Midwest temps warming into the weekend, but average precipitation & good coverage over the next 10 days
Wheat as if 7:45-MW Down 1 KC Down 1
Weekly export sales of 338,700 MMT Ukraine’s Ag Minister said 2014 grain production could exceed the 63 MMT produced in 2014, which would be ahead of the 58.5-61 released by private analysts. The Australian Bureau of Meteorology is forecasting good rains for the Eastern regions, which would be very beneficial to the wheat crop there