Higher futures prices and aggressive farmer selling helped keep soybean basis unchanged for the week, while US average corn basis rose 2 cents a bushel.
For soybeans, river terminals were hard hit this week slipping 5-cents a bushel as weakness at the Gulf combined with an uptick in barge rates pushed basis levels lower.
隔夜sessi谷物扩大涨幅on with front-month March wheat futures climbing above $6 a bushel but hitting resistance at $6.10. Corn and soybeans were also up posting 5 cent advances at the end of the night trade.
Cody discusses WASDE expectations and what that could mean for the market. He also looks at what to expect from South American crop production.
This is the second time in three years that Southern States has been recognized as the Feed Mill of the Year
In the overnight session corn fell 1 ¾ cents, soybeans fell 1 cent and wheat backed off from yesterday’s gains by 4 ¾ cents. The dollar index, which fell yesterday, is now back trading near the highs on the daily chart, up over ½ a percent this morning.
In the overnight session corn continued trading lower finishing down 3 cents going into the morning pause. Soybeans which traded a 13 ¼ cent range last night, added 1 ¼ cents to the closing price on Friday, and wheat improved 1 ¼ cents as well. Soybeans had a particularly negative session on Friday, falling 33 cents with below average daily volume. Be wary of a bounce early in the session today as many traders are back from their Thanksgiving travels.
Cash grain markets continued to post gains this week with corn basis advancing 4 cents on the week while soybeans added 3 cents on average to US basis levels.
Attention: Following the Thanksgiving holiday the markets will open at 8:30 CST but close early at 12 CST.
Export sales for wheat were reported within analyst expectations booking 431,500 metric tons which was up 19% week over week. Corn sales beat analyst expectations recording 944,900 metric tons of sales, up 4 percent from last week.
Feed &Grain publisher, Arlette Sambs, gives her take on the holidays, planing for bussiness and the state of amerian politics
现金粮食市场期货价格发现强度s were down on the week. Both spot and corn bean basis levels posted impressive gains, advancing 5 and 3 cents a bushel, respectively, on the week.
Corn found strength from slow farmer sales as harvest wrapped up as well as underlying demand. Ethanol plants as a group were up 7 cents a bushel with 10 cent gains fairly typical as plants push well above harvest lows.
In the overnight session corn traded down 1 ½ cents, soybeans traded up 5 ¾ cents and wheat in Chicago traded down 2 ½ cents. Keep in mind that today is the LAST TRADE FOR DECEMBER OPTIONS.
Precipitation is developing over the Delta region which will likely expand to bring moisture to the eastern two thirds of the grain belt throughout the weekend.
In the overnight session corn increased 2 ¼ cents, soybeans increased 1 ¾ cents and wheat fell 3 cents as we go into the morning pause in trade. Export sales which were released at 7:30 CST caused soybeans to give back most of the gains it had achieved in an overnight bounce.
In this morning’s export sales report, wheat sales fell within market expectations booking 361,700 metric tons, down 13 percent from the previous week. Corn booked 908,700 metric tons, up 80% from last week and beating expectations by a large margin.
Tune in to hear Cody discuss what's expected out of tomorrow's export sales report. He also breaks down why wheat continues to trade lower.
Corn and bean futures prices found strength this week and the cash market added on to the gains with a 2 cent basis increase on average across the US this week.In corn, ethanol plants were a dominant driver adding 4 cents a bushel as a group as ethanol production continues to accelerate. Weekly ethanol output was at 946,000 barrels per day, a marketing year high, and puts year-to-date output 6.1% ahead of last year's pace. USDA has only a 0.3% increase expected for annual corn use for ethanol. Export markets were also up with the Gulf port basis advancing 3 cents a bushel. Weekly export inspections were at 517,000 MT on par with expectations but a bit slim for this time of year.
US Corn Price Idx:ZCPAUS.CM
open: 7.6995
high: 7.7394
low: 7.6068
close: 7.7167
US Soybean Price Idx:ZSPAUS.CM
open: 16.7659
high: 16.8093
low: 16.5863
close: 16.6419
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 11.2626
high: 11.2901
low: 11.0257
close: 11.1615
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 10.1116
high: 10.1794
low: 9.9562
close: 10.1341
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