Sep 25th 2014
Grain Marketing Specialist
Corn: As of 7:45- unchanged
Corn was not lower yesterday! Rain fall slowing harvest progress led support yesterday but the next few days look favorable for progress. Ethanol production down 42 to 889 for the week. Export sales this morning at 1106.4 vs. 600-900 expected. Technically 3.25 looks to have shown support and one of my indicators have turned but let’s see what happens when combines start to roll again.
Soybeans: As of 7:45- unchanged
A firm $ limited gains yesterday as well as yet another day a good yield reporting. Immediate forecast looks favorable for harvest. Export sales this at 2570 in range with large expectations of 1500-2700 on Chinese frame contracts.
Wheat: As of 7:45- Spring down 2, Winter down 4
Winter wheat planting continues on near ideal conditions while spring harvest attempts to wrap up. Recent moisture is seen as beneficial to the winter wheat crop. Global wheat supplies looks to ample but there is concern about milling quality availability. Export sales at 396.3 vs. 350-500 expected.