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Grain Market Insight
Afternoon Grain Comments 10-16-2017 – The grain markets were lower as weather for harvest is improving in much of the corn belt. Yield reports for corn continue to be good and said to be supportive of the recent 171.8 yield put out in the USDA report. The soybean market was under pressure today with improving weather in South America to get soybeans planted. The wheat market was a little stronger in the night session but it couldn’t compete with the soy and corn selling. One big factor in the wheat market is how many acres will continue to go to other crops, especially away from Hard Red Winter wheat. At the end of the day, wheat corn, and milo were all two cents lower and soybeans were down 9 cents. Have a great evening.
Morning Grain Comments 10-16-2017 – The grain markets were mixed overnight with soybeans lower, wheat a little higher, and corn between the two. The little bit of weather premium that may have been in the soybean market with planting in South America and some rain delays in the U.S. seems to be moving out. There really isn’t much news to move grain prices higher at this point. At the end of the night session this morning at 7:45, Kansas City December wheat was 1.25 cents higher, Chicago December corn was down 0.75 cent, and November soybeans were 3.5 cents lower. Have a great day.