November 24, 2017
Producer Marketing Manager
Happy Black Friday……With no overnight markets we are going ‘old school’ this morning with opening calls for each commodity. Wheat Grower’s locations are closed today, but you can sell grain by calling the grain desk in Aberdeen at 605-725-8383 until noon today.
CORN: Looking for a firmer start on the open at 8:30….Up 1-2
Export sales out this morning were in the middle of trade expectations at 42.6 million bushels, range was 35-51. The ethanol grind reported on Wednesday was a record weekly production number and almost 6% higher than a year ago……some margins in the ethanol sector has them pushing their grind.
SOYBEANS: Up 3-4 is the opening call
Export sales this morning were below trade expectations at 31.9 million bushels. This was lower than last week’s number of 40.6. Looking for firmness on continued dry weather in Argentina. Interesting data out on China’s customs data…..specifically the increase in Brazilian bean imports year over year!
WHEAT: Called steady on the open
Wheat export sales were also bleak this week at 7.3 million bushels…..the trade was estimating 13-20. The majority of the tally was HRW at 5.4.