Item
High
Low
Last
Net Chg
CORN SEP0
452.00
430.75
450.25
16.75
CORN DEC0
467.00
445.50
466.25
17.00
SOYBEANS NOV0
1041.25
1009.00
1036.00
26.00
SOYBEANS JAN1
1049.75
1018.50
1044.00
25.25
WHEAT SEP0
709.25
682.00
709.00
27.50
WHEAT JUL1
730.00
714.25
729.50
14.50
U.S. corn futures surged today to their highest level in nearly two years after a private estimate of the U.S. crop came in well below the U.S. Department of Agriculture's current forecast. The market got a jolt when analytical firm Informa Economics said the average U.S. corn yield could drop to 158.5 bushels per acre, well below USDA's current forecast of 165.0 and many trade estimates in the 160s. Corn and wheat drew additional support from news of a 12 percent drop in the German grain crop. Germany's agriculture minister on Friday projected the country's wheat production at 23.92 million tonnes, down 5 percent, due to adverse weather. Look for trader profit taking and positioning next week prior to Fridays S & D report.
In this report, Cargill, Inc has relied on information received from third party sources it believes is reliable but cannot guarantee such reliability. The opinions stated herein are subject to change without notice."Cargill, Inc CONFIDENTIAL and PROPRIETARY. Do not reproduce or distribute. Copyright (C) Cargill, Inc. All rights reserved."
