November 30th 2012
Grain Marketing Specialist
As of 7:40am Mar. 2 lower, Dec.’13 unchanged
Corn values lowering itself yesterday with fears of small deliveries with the ending of the Dec. contract. Trade continues to watch Mississippi River. Numerous politicians calling for the Corps of Engineers to release more Missouri water to aid in barge traffic. Weekly export sales are still lower than wanted with only 236,000 tons shipped versus 281,000 last year. Some analysts predicting US corn exports down 150 million bushels. That maybe enough to curb feed rationing into the New Year. New crop futures bouncing back lower off the 640-645 area. With slow exports and possible Mississippi River shut down this may be an area we should be looking at to price a little grain. Corn
As of 7:40am Jan. 10 lower, Nov. ’13 is 8 lower
Soybean export numbers were weaker than what USDA had predicted with only 319,000 tons moved versus 489,000 last year. Soymeal exports, however, were way up. 365,000 tons versus 139,000 tons last year. Soyoil sales were really good this last week with 121,000 tons this week versus only 9,000 this time last year. Trade is expecting to see an increase in soyoil exports, which should bring in some support. Still we are looking ahead to see what the Jan 11th report will bring. Argentina still forecasted as wet. Brazil is sitting in pretty good shape. Beans lower today.
As of 7:40am Spr. Wheat 3 lower and Win. Wheat 9 lower
Wheat following suit yesterday due to slow weekly exports. 279,000 tons versus 503,000 tons last year. Ukraine slightly increasing their projected wheat exports. Trade is also looking at tightness in Russia. Weather for the US western corn belt seen as hot and dry for the next two week. There still seems to be some life in the wheat market. Today it will follow markets.