Dec 31th 2013
Grain Marketing Specialist
Wheat Growers would like to wish everyone a safe and happy New Year.
Trading hours for the New Year’s holiday: Regular hours today. Closed tonight and will not reopen until Thursday 8:30 a.m. CST
If you have deferred grain settlements for Jan 2nd and would like to pick them up at a location other than the location you delivered the grain to please let us know and we will have them ready.
Corn: As of 7:45- 1 lower
Another light day yesterday with a narrow range of 3 3/4c. SA rains, fears of continued Chinese rejections and a disappointing export inspections number ( 24.908M) pressured corn lower. Technically all three of my indicators are in sell mode with support at 4.18 ½. As we await the USDA Dec 1 stocks report and 13-14 production report on Jan 10th.
Soybeans: As of 7:45- 6 lower
Soybeans trading lower yesterday on favorable SA weather. Heat is still a concern but recent rains seem to trump that. Export inspection at 43.182M below expectations. As we continue to move closer to a SA harvest idea’s of Chinese cancelations will surface. First Notice day for Jan soybeans is today. Technically all three of my indicators are in sell mode with support at $13.00. We poked below it yesterday but did manage to close above it.
Wheat: As of 7:45- 1-2 lower
Nothing new to talk about in the wheat complex as the path of least resistance remains lower. Export inspections fell short of estimates at 13.4M vs. expectations of 16-22 and 16.8 weekly needed to reach expectations. World stocks remain ample giving no apparent reason to rally significantly right now.