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EHedger Report

RSS By: Dustin Johnson

Dustin works with a wide net of large producers throughout the Midwest. His analytical market approach and objective hedge strategy development is specific to the needs of every individual.

Closing Grain Commentary July 8th

Jul 08, 2010

All three grains finished the day stronger in anticipation of a bullish USDA Report. We will find out the results tomorrow morning as the USDA will release a Supply and Demand report along with wheat production at 7:30am. In addition to this report we will also have export sales numbers which have been pushed back a day due to the Fourth of July holiday. Below you will find the average estimates for tomorrow mornings report. The estimates for corn export sales are between 800,000-1,100,000mt. The estimates for bean export sales are between 500,000-750,000mt. Estimates for wheat export sales are between 350,000-450,000mt. Tomorrow morning we will release our opinion of the USDA Report in both our morning and afternoon commentaries. If you have any questions about your individual operation and the protection that you need as we progress through the summer, please do not hesitate to give us a call.




Commodity    Estimate Range        Last week's sales

Wheat   350,000 - 450,000          424,400

Corn   800,000 - 1,100,000         726,200

Soybeans 500,000 - 750,000      715,000

Soymeal 100,000 - 200,000       125,000

Soyoil   50,000 - 65,000             13,500

Cotton   300,000 - 400,000          408,700



 

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COMMENTS (1 Comments)

Anonymous
Minimal imports of spring wheat from Canada this year. Domestic demand should for once be mainly US origin,,, end users buy your wheat now. A lot of market analysts look back and think why is wheat going up,,, the fact is your losing money raising it for $5.00 a bushel is the problem.
11:59 PM Jul 8th
 
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