Rail transportation tops the concerns of farmers this year as they prepare to harvest what’s expected to be a massive corn crop.
Soybean basis levels collapsed this week for spot delivery as harvest draws near. Tune in for the full breakdown of cash market movers!
U.S. grain futures slipped lower over night with corn trading down 2 cents, soybeans off 2 cents, and Chicago wheat down 5 cents.This morning’s export sales report showed strong sales for U.S. corn and soybeans while wheat missed expectations. Soybean sales were reported at 1.466 mill tonnes, just above expectations.
Monday was a quiet day for U.S. grain prices with corn and soybeans drifting higher and wheat continuing to grind lower. Today we discuss the weekend's frost/freeze and tomorrow's acreage report.
The markets resumed the trend of selling on Monday as traders eye the Thursday WASDE report. Watch Cody and Logan breakdown weather, crop conditions and export inspections in today's show.
Grains gave back most of Friday’s gains in the overnight session. Currently corn is down 6, soybeans off 8 and Chicago wheat is down 7 cents. Technical support on December corn sits at 3.46 ¾ while looking at the soybean daily chart, support would not be expected until 10.02.Russian what prices have rose for the last two weeks following record exports during the month of august. Strong domestic demand and a weakening Russian Rouble have also contributed to prices strengthening. This will be a supportive story moving forward if Russian domestic prices can find a bottom. The U.S. market has been pressured throughout harvest by the price and demand for Black Sea wheat.
Grain TV talks about the latest weather forecast and discussed how the cash market has changed over the last seven days. Tune into to listen to what areas of the U.S are showing basis weakness.
Cody breaks down today's trade session as he covers the ethanol numbers as well as export sales expectations for tomorrow's report.
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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