With the market eyeing the report on Monday here are the expectations for crop production and ending stocks.
In the overnight session the grains are mostly mixed with corn up 2 ¾ cents, soybeans trading 1 ¾ cents lower and wheat down by ½ a penny. Trade will be heavily focused on the reports scheduled for release at 11 AM CST on Monday. Below are expectations for Mondays report.
Soybean sales continue to surprise analysts with weekly strength.
In the overnight session corn slid ¼ cent, soybeans increased 4 ¼ cents and wheat fell 3 ¼ cents. This morning another reportable sale including 118,000 metric tons of soybeans was announced for delivery to China in 14/15 marketing year.
Tune into GrainTV to hear Kevin discuss the ethanol production report released early this afternoon and help shine light on the question "will the USDA revise their crop production numbers higher on Monday?"
The markets were mixed in the overnight as traders eye the three large reports scheduled for release on Monday.
In the overnight session corn fell 1 ¼ cents, soybeans climbed 2 cents and wheat fell ½ a penny. Wheat seemed to be unaffected in the overnight by the frigid temperatures that are currently moving through the grain belt. Illinois, Southern Michigan and Indiana will be the most vulnerable to...
The grains continued their rise in the overnight session as more export sales of wheat and soybeans were announced.
In the overnight session the grains traded higher again with corn up 2 cents, soybeans up 7 cents and wheat trading up 7 1/2 cents this morning. Yesterday there was talk that China purchased 233,000 metric tons of wheat which was seen as a positive sign for the grain. The origin of the grain...
The grains bounced in the overnight as traders see the possibility of increased demand after prices fell for four days in a row.
In the overnight session the grains are higher with corn up 6 ½ cents, soybeans up 11 ¾ cents and wheat up 10 ½ cents as we have moved past the holiday trade schedule into a more normal environment. The bounce this morning in the overnight comes after four straight days of selling pressure...
The holiday-shortened week did little to move cash basis levels across the country even as futures prices drifted lower. Corn basis on average across the US was unchanged for the week while soybean basis slipped a penny.