December 20, 2013
Producer Marketing Manager
A daily dose of optimism on the last official day of AUTUMN……..after tomorrow, the days start getting longer!
CORN: As of 7:45 – DN 1
The export sales number out yesterday morning gave a boost to corn market as we closed 5 ½ cents higher, right at the 20 day moving average mark. The trade is continuing to watch precip chances as well as warmer than normal temps in Argentina over the next 8 – 14 days. US Ag Secretary Vilsack is in China discussing GMO issues.
SOYBEANS: As of 7:45 – UP 2
Weaker than expected export sales put pressure on the bean market most of the trading session before finishing the day 3 cents higher. The same S American weather scenario comes into play in the soybean market as well, but is fairly early in the growing season.
WHEAT: As of 7:45 – MPLS UP 1, KC UP 2
Wheat started strong on the report of better than expected export sales, but lost traction into the close and put in an outside day lower. All wheat markets have struggled since the Dec 5th Canadian production release by Stats Canada.