Grain Marketing Specialist
Corn: As of 7:45- steady
Corn market settled a moderate 1 ¼ higher yesterday with help from an announcement of 110,400 ton of corn sold to unknown and all-time record high ethanol production of 1.054 million bpd. The market continues to consolidate near the Oct highs. Export sales at 1370 for 16/17 and 12.3 for 17/18.
Soybeans: As of 7:45- 7 lower
With little change to the SA weather forecast this market has temporarily run out of reasons to continue higher for the moment. Rosario grain exchange lowered Argentinian production estimate from 54.4 to 52.9 million tons. Overnight we are appearing to be chipping away at this week’s gains as watch the weather forecast closely. Export sales at 979.6 for 16/17 and 66.7 for 17/18
Wheat: As of 7:45- 3 lower
Very little new news yesterday as folks hash out lower HRW acreage vs. winterkill vs. HRS losing acres to row crops vs. already ample inventory. Minneapolis appeared to hang in there while KC decided to break. Last night KWH found support at 38.2% retracement as this market appears to be losing momentum. Export sales at 242.5 for 16/17 and 60.5 for 17/18 this morning