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Grain Market Insight
Afternoon comments 12-13-17 Not much news in the grain markets today. Corn closed slightly higher as the US becomes the cheapest corn offer in the world markets. Last week’s ethanol production slipped from the previous week’s record high to 1.089 million barrels/day. A quiet choppy session in the soybean markets today with January contracts closing slightly higher. South America’s total soybean production estimates continue to increase as weather forecast brings in more rain chances for southern Brazil and Argentina. March KC closed modestly higher with help from commercial buying to help prices off their contract lows. Closing cash bids corn and milo up a penny, soybean 3 cents higher and wheat closed the day a nickel higher. Have a great evening.
Morning Grain Comments 12-13-2017 – We start the post-report trading today as we saw the grains trading in positive territory during the night session. With the wheat price where it is, we are more competitive in the world market, but as you can see, it is a competitive business. In world grain trade news, Egypt purchased 235,000 tonnes of wheat from Russia and 60,000 tonnes from Romania, MFG in South Korea purchased 67,000 tonnes of optional origin corn, Algeria purchased 120,000 tonnes of wheat from the U.S., and Iraq has tendered for 50,000 tonnes of milling wheat. At the end of the night session this morning at 7:45, Kansas City March wheat was 2.75 cents higher, Chicago March corn was up 1.25 cents, and March soybeans were 4.25 cents higher. Have a great day.
The Sublette Cooperative administrative office and grain loading operations will be closed on Saturday for the next three months. Fuel, agronomy, and service operations will be open for normal business. We appreciate your business.
Who was the only U.S. President to serve in both World Wars?
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Quote of the Day
"Think small and act small, and we'll get bigger. Think big and act big, and we'll get smaller."