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Delayed Pricing for Corn, Beans & Wheat
Corn 4 cents / month Starting 9/5/2024
Beans 5 cents / month Starting 9/5/2024
Wheat 6 cents / month Starting 7/22/24
GRAIN REPORTS:
Click Here for the 2024 Agricultural Report Calendar.
Weekly Export Inspections: Monday (10:00 am)
Weekly Ethanol Production: Wednesday (9:30 am)
Weekly Export Sales: Thursday (7:30 am)
USDA Drought Monitor: Thursday (7:00 am)
MORNING COMMENTS:
Thursday Sept. 12th, 2024
The September WASDE report will be released today at 11am.
Corn +3
Corn futures had an uneventful overnight session. December 24 futures are trading up against its 10-day moving average of 4.05’6. December 25 futures are close to reaching its 50-day moving average of 4.45’6. The average US yield estimate for today’s report is 182.4 bu/ac. US corn production is expected to slightly decrease to 15.076 billion bushels. US corn ending stocks are estimated to decrease around 66 million bushels from last month’s WASDE report. CONAB updated their Brazil corn crop totals to 115.72 MMT vs. their previous estimate of 115.65 MMT.
Beans +6
Bean futures are trading higher this morning. November 24 futures are close to reaching its 10-day moving average of 10.07’4. November 25 futures are close to reaching its 50-day moving average of 10.59’4. US export sales this week for 2024/25 were 1,474,000 MT and within the market’s estimates. US bean yield should hold steady at 53.2 bu/ac in today’s WASDE. US bean production should remain unchanged, and US ending stocks are estimated to increase by 5 million bushels. CONAB estimates Brazil’s 2023/24 crop at 147.38 MMT.
Spring Wheat +6
Winter Wheat +8
Wheat futures are trading higher this morning. Mpls and KC December 24 futures are both trading higher than their 10-day and 50-day moving averages this morning. US wheat export sales this week were up 40% from last week at 474,900 MT. The wheat balance sheet shouldn’t see any big chances today. US 2024/25 ending stocks are expected to decrease around 5 million bushels to 823 million bushels. World ending stocks are also expected to slightly decrease to around 255.31 MMT. Strategie Grains decreased their European Union soft wheat estimate by 2.1 MMT to 114.4 MMT. CONAB decreased their Brazil wheat production estimate to 8.8 MMT.
Hallie T
Crop Condition Report Sept 9th
Corn Rated 64% G/E Down 1%
Soybeans Rated 65% G/E Unchanged
September USDA Report 9/12/24
Yields
Corn 183.6 > 183.1 Aug Est = 182.4
Beans 53.2 = 53.2 Aug Est = 53.2
Ending Stocks
Corn 2057 > 2007 Est Aug = 2073
Beans 550 < 565 Est Aug = 560
Wheat 828 > 823 Est Aug = 828
World Ending Stocks
Corn 308.4 < 309.4 Est Aug = 310.17
Beans 134.6 > 133.86 Est Aug = 134.30
Wheat 257.2 > 255.31 Est Aug = 256.62
Pro Farmer Crop Tour
National Avg Yield
Corn 181.1 bu/acre < 183.1 USDA
Beans 54.9 bu/acre > 53.2 USDA
West-Con has Three Shuttle Loading Locations
APPLETON, MN
Hwy 119 S 458 Munsterman St.
Appleton, MN 56208
Scale Ext 1401
Elevator has 3.45 million storage
110 car shuttle loader
Twin Cities & Western
UP, CP & BNSF Railways
HOLLOWAY, MN
520 County Rd 9
Holloway, MN 56249
Scale Ext 1217
Elevator has 8.6 million storage
110 car shuttle loader on BNSF
TWIN BROOKS, SD
47229 US Highway 12
Twin Brooks, SD 57269
Scale Ext 1305
Elevator has 8.3 million storage
110 car shuttle loader on BNSF
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