August 25th, 2015
Grain Marketing Specialist
Corn: 5 higher
Corn is turning higher after yesterday’s bullish reversal. Crop Progress showed no deterioration, as some traders had hoped, but actually increased bushels per acre by .35. USDA says the crop is 39% dented. Yesterday’s Export Inspection report was in line with trade guess at 34.8 million bushels. Weather forecasts show heat returning with chances of rain in the NW Corn Belt.
Soybeans: 13 higher
Soybeans are trying to hold double digit gains in the overnight. Crop progress showed very little change. 87% of the crop is setting pods. Export inspections were at 7.8 million bushels. This number was at the top end of the trade estimates.
Wheat: 4 higher
Wheat is running higher after yesterday’s bullish reversal. Export inspections, yesterday, were at 10.2 million bushels. This is well below USDA estimates for the 2014 export year. Spring Wheat harvest is at 75%. This is ahead of the five year average, according to the USDA.