Tidbits, Pre-Hedging, Argentine Crops, Iran, Railroads, Weather, Export Sales 10/23/26
Tidbits
Today is Friday with good harvest weather. Farm storage bins are getting full and more corn and beans will be moving to grain merchandisers. That means there may be a lot of pre-hedging this afternoon and the spec traders will be anticipating the pre-hedging before it happens. Plan ahead.
December corn was down 2¾¢ and Dec wheat was 3½¢ lower yesterday, but they did not trade as low as they did on Wednesday.
Export Sales:
USDA announced yesterday the sale of 202,000 mts of old crop soybeans to China.
China’s Sinograin will auction off another 512,000 mts of soybeans from Government reserves next Tuesday.
U.S. weekly export sales for corn topped the expected 1.5 million tons. Soybean sales were huge, close to 3 million tons, while total sales to China reached 13.45 million, and there are another 5.66 million parked in unknown, so total commitments are roughly 18 million out of the promised 25 million mts.
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
