Create a free Feed & Grain account to continue reading

NOPA Crush Met Expectations

In the overnight session the grains traded mostly lower with corn down 1 1/4 cents, soybeans unchanged and wheat down 1 1/4 cents.

Cody Headshot
Down arrow1

In the overnight session the grains traded mostly lower with corn down 1 1/4 cents, soybeans unchanged and wheat down 1 1/4 cents. The U.S. dollar is trading down .09 percent and crude oil is up $1.10 to $45.68 per barrel. The markets are eagerly waiting the Federal Reserve meeting later on Wednesday which will discuss whether or not they will increase rates on Thursday.

Yesterday, the NOPA crush numbers were released at 11 A.M CST and met expectations. August crush was reported at 135.304 million bushels compared to the average analyst guess of 135 million bushels. Although this crush number slipped lower from July’s 145.227 million bushels it is still well over the four year moving average of 117.414 million bushels and the largest August crush since 2007. Soyoil stocks were reported at 1.480 billion pounds which is higher than 2014 soyoil stocks of 1.213 billion pounds. Soymeal exports were reported at 491,510 metric tons.

Temperatures are forecast to be above normal this for most of the grain belt which will be pushed out toward the end of the week by a cooling trend in the northern plains. Precipitation will be light in the western part of the U.S with some moisture expected in Missouri, Eastern Iowa, Illinois and Indiana on Friday and Saturday.

Harvest in Ukraine is now 72 percent complete with an average yield of 3.61 metric tons per hectare according to the agriculture ministry. So far this year Ukraine has harvested 38.3 million metric tons of grain for the 2015 crop.

Page 1 of 244
Next Page