Grain Marketing Specialist
Corn: As of 7:45- 1 higher
I’m feeling like a broken record this week. Another tight range of 2 ¾ cent range on continued lack of fresh news. USDA did announce a sale to Costa Rica. Ethanol production remains firm as stocks are at an all-time high. Export sales at 1050 for 15/16 and 247.2 for 16/17 towards the higher end of expectations.
Soybeans: As of 7:45- 1 lower
Light news in the bean complex as well as SA weather remains favorable for development and harvest progress. SA soybeans may look to displace US exports as what generally happens this time of the year. Export sales at 567 for 15/16 and 28.7 for 16/17 with the range of expectations.
Wheat: As of 7:45- steady
News remains uneventful. Egypt is tendering for wheat again. It will be interesting to see if there is any reluctance by traders due the ergot issues seen lately. Export sales at 253.6 for 15/16 and 54.2 for 16/17 well within the range of expectations.