11/27/2020
Bailey Miles, Grain Marketing Specialist
November 27th Agtegra Morning Market Insight

No overnight markets due to Thanksgiving……Markets open at 8:30am this morning and will have an abbreviated session with a 12:05 close. 

If you need to market grain today you can reach us at 605-846-1720.

Corn: Opening call is steady/firm for all markets
Export sales announced this morning were above expectations for corn at 65.6 mbu. There was an export sale of 302,160 MT of corn announced to Mexico for the 20/21 marketing year. The Brazil safrinha (double crop) corn is going to be planted later than normal & there may be less safrinha planted depending on how late soybeans are harvested.
 
Soybeans:
The bean market is expected to be supported by continued dry forecasts for South America. In central and northern Brazil, the most likely scenario over the next two weeks is for 1.50” to 3.00” to impact soybean areas, with most rain late in the period; 3.25” to 5.50” is normal. Bean export sales were on the lower end of expectations at 28.2 mbu.
 
Wheat:
The trade expects a thinner volume trading day and back to normal Sunday evening. GASC closed a purchase of 175 tmt Russian wheat yesterday. Wheat export sales were above expectations at 29.2 mbu.