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Grain Market Insight
Afternoon comments 8-17-17 A quiet choppy session in the corn markets today with Dec corn closing slightly lower. Today’s US drought monitor update showed a patch of extreme drought in south central Iowa as they continue to miss out on the rains. Last week’s corn export sales came in at only 2.5 million bushels. Soybean markets able to trade independently higher with help from stronger soybean meal and bean oil. Last week’s soybean export sale came in at 16.7 million bushels which was 7.5 million above the higher end of trade estimates. KC wheat continues to grind lower to new contract lows in hopes to become more competitive with the Black Sea wheat prices. Last week’s wheat export sales did come in slightly above trade expectations with sales of 23.3 million bushels. Closing cash bids corn and milo down 2 cents, soybeans 8 cents higher, and wheat closed the day down 6 cents. Have a great evening.
Morning Grain Comments 8-17-2017 – The grain markets traded higher overnight with soybeans leading the way. The interesting comment this morning was that the grains should be lower today but soybeans provided some strength as there is some concern about too much rain in places and not enough in others. The export sales report this morning at 7:30 should have been mostly bullish with very good soybean sales as both old crop and new crop sales were above the pre-report trade estimates, wheat sales were also above the trade estimates but the corn sales were within the trade estimates but values drifted a little lower in the last 15 minutes of the night session. In world grain trade news, Egypt purchased 355,000 tonnes of wheat with most of it coming from Russia but 60,000 tonnes coming from Ukraine and Saudi Arabia reportedly will purchase 480,000 more tonnes of wheat. At the end of the night session this morning at 7:45, Kansas City September wheat was down 0.5 cent, Chicago September corn was up 0.25 cent, and September soybeans were 5.5 cents higher. Have a great day.
Sublette Cooperative will be closed for Labor Day, Monday, September 4, 2017. Our customer appreciation day is scheduled for Thursday, September 7th from 11:30 to 1:00. Come join us for lunch. We appreciate your business.
FCStone Trivia
Laura Davies holds the records for most appearances (12) and most points won (25) in this biennial competition...
See below for the answer
Quote of the Day
"Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great."
