January 10, 2014
Travis Antonsen
Producer Marketing Manager

It’s all about the report……due out at 11:00 AM.  It is setting up for some highly volatile swings, do you have targets placed for your price objectives?

CORN:  As of 7:30 – Down 3
We made new contract lows  on the March corn contract yesterday as it traded down to $4.08.  Numbers to watch:  Production @ 14.06 billion bushels, Yield @ 161 and Carry Out @ 1.844 billion.  Watch world carryout….

SOYBEANS:  As of 7:30 – Up 4
Beans were mixed on the day as old crop found some traction on another USDA reported sale to China while new crop struggles to gain any ground.  Numbers to watch:  Production @ 3.278 billion bushels, Yield @ 43.3 and Carry Out @ 149 million.  It will also be interesting to note where S American production will land as average guesses for both Brazil and Argentina production are larger than the December.

WHEAT:  As of 7:30 – MPLS Up 3, KC up 1
Spring wheat continues to be the leader as poor logistics continue to draw down pipeline supplies to the domestic mills.  Spot cars are trading at a hefty premium, if you can get them in and loaded.  Numbers to watch in this morning’s report:  Carry Out @ 557 million bushels (slightly lower than the Dec #), and World Carry out @ 182.57 Million Metric Tons.