March 12th, 2015
Grain Marketing Specialist
The deadline to enroll corn and soybean bushels, for a new crop sale, in our Mark Base Builder program is this Friday March 13th. Call your local Grain Marketing Specialist or your nearest Wheat Growers Grain location for details.
Below it the Patron Meeting Schedual in regards to the Unification.
Corn is range bound and will continue to do so without any big news to push it one way or the other. There are fears of potential planting delays in the Delta states. Yesterday’s weekly ethanol report says that production rose by 13,000 barrels a day. Export sales this morning are at 20.3 million. 3.8 of that was new crop.
Soybeans continue to be on edge. Traders are looking for any information to get out of this funk. There is a 3 day Argentina Farmer Strike going on, and we are on day two. Argentina has a 35% tax on soybeans sold for export. Traders expect to see a quick return in Chinese buying interest in US beans. In Tuesday’s report the USDA left Brazil and Argentina’s soybean productions numbers unchanged at, combined, 150.5 million metric tons. US export sales, this morning, came in at 7.3 million bushels. 1.1 million, of that, was new crop sales. Take advantage of these weird news reports that move the market. Long term suggests pressure on bean futures.
Wheat: 2 - 4 higher
Wheat is riding higher on news that the Hard Red Winter Wheat Plains, here in the US, are dry. Export sales this morning are at 18.2 million bushels. 1.8 was new crop sales. Weather patterns will be moving this market going forward.