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Grain & Oilseeds with Craig Turner - Premium Producer | Export Sales Bullish Soybeans, Bearish Corn

Craig Turner
Craig Turner

Senior Risk Management Consultant

GRAINS & OILSEEDS |  Ag markets were mixed today.  Crude oil is higher and that is helping soybean oil and canola.  Soybeans are up due to Chinese purchases and a bullish export report.  Corn and wheat are lagging behind on exports and were lower today.

The weekly Thursday export report showed corn exports above expectations at 1527K tonnes.  Soybeans were at the high end too at 2841K tonnes.  That is about 60mm bu for corn and 104mm bu for soybeans.

Corn is still running behind the USDA export pace by about 10%.  The current pace has US corn exports at 3 billion while the USDA has new crop exports at 3.3 billion. It is still early but we need to see corn exports pick up with this recent price decline

Soybeans are now 10% ahead of the USDA export pace. The current pace has US soybean exports at 1860 and the USDA has new crop exports only at 1695.

Corn and soybeans seem to have stabilized a bit at these prices as end user demand is stronger, but the yield reports coming from the fields have been strong too.

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Craig Turner

Office: 312-706-7610

Twitter: @CornWheatSoy

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