September 21, 2016
Grain Marketing Specialist
Fall harvest is here! Contact your nearest Grain Marketing Specialist to discuss our different contracting options and grain programs.
Corn: 2 lower
Corn futures are lower this morning in anticipation of what the Federal Reserve will do to interest rates this afternoon. If rates don’t change, we could see a bullish spark to this corn market. Harvest progress and yield potential could shut down the party fast. Technically we are still holding below the $3.40 resistance level. Weather forecasts continue to show precipitation chances.
Soybean: 3 lower
Soybeans are lower this morning on some profit taking. US reporting China bought 4 million bushels. Weather forecasts potentially slowing down harvest keep this market bullish for a while.
Wheat: 1 – 2 lower
Wheat is lower as it follows the other commodities. US reporting a 8.6 million bushel sale of soft red winter wheat to Morocco. Wheat fundamentals still look limited.