Morning Grain Comments, 09/11/2015

Friday, September 11, 2015


 

Low-volume, range-bound trade was the name of the game overnight with delayed export data and particularly USDA numbers coming up later today; will the bears have enough ammo to make another push at previous move lows if the government leaves supply-side numbers unchanged?

Animal feed makers from the Philippines bought 110k tonnes of Australian feed wheat and 90k tonnes of U.S. soybean meal, for Q1 2016.

FranceAgriMer reported a one-point rise in corn condition ratings this week, from 55 to 56% good/excellent—that remains below 86% at this point LY.

The Buenos Aires Grains Exchange estimated Argentina's 2014/15 corn production at 26.3 million tones, up from 26.0 MMT previously.

Russia's farm ministry has reportedly proposed a cut in the state's wheat export tax and an increase in prices paid for grain going to state reserve stocks.


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