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Grain Market Insight
Afternoon Grain Commentary 1-24-2020 – Grains closed lower for the day and the week even with decent export numbers. Cash wheat down 6 cents for the day and 8 cents for the week at 4.39, cash milo down 7 cents for the day and 2 cents for the week at 3.31, cash corn down 7 cents for the day and 2 cents for the week at 3.82, and cash beans down 8 cents for the day and 23 cents for the week at 7.77. Export sales report this morning was mostly good with 39.6 million bushels of corn, 29 million bushels of beans, and 25.6 million bushels of wheat. The .4 million bushels of milo left some to be desired. According to the USDA approximately 12% of winter wheat production is in an area experiencing drought. In short, SW Kansas needs rain. Have a great weekend!
Morning Grain Comments 1-24-2020 – The grain markets were lower overnight with in a night session with about normal volume with corn getting a good share of the volume. This is being written ahead of the grain export sales report at 7:30 so that could be a market mover for the day after it comes out. Maybe Cindy will detail those numbers in her afternoon comments. There isn't much in the way of world grain trade news this morning except Algeria tendering for corn and soybean meal. At a little after 7:00 this morning, Kansas City March wheat was 4.75 cents lower, Chicago March corn was down 3.75 cents, and Chicago March soybeans were 4.5 cents lower. Have a great day and weekend.
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