Closing Remarks

May 26, 2017 

Provided by Matt Lukac, Sunrise Grain Solutions Advisor


Have a Safe and Happy Memorial Day Weekend

Corn is up 5 ¢ at the close.  The Buenos Aires Grain Exchange estimates Argentine corn production at 39 mmt, compared to the USDA’s 40 mmt estimate.  Harvest progress was reported at 36% complete.  Planting progress for Tuesday’s USDA report is estimated at 90% planted, compared to an average pace of 92%.  Some chatter about lost acreage with less than optimum conditions expected over the weekend.

Soybeans are down 13 ¢ at the close.  The Buenos Aires Grain Exchange estimates Argentine soybean production at 57.5 mmt, compared to the USDA’s 57 mmt.  Harvest has advanced to 79.6% complete. Planting progress for Tuesday’s USDA report is estimated at 68% planted, on par with the 5-year average.  Beans were on the opposite side as corn today as the crop insurance date nears on corn.

Wheat futures are firmer this morning. Chicago is up 7 ¢ at the close.  Russian exports are expected to hit record highs this year.  On the bullish side of things, More of yesterday’s discussion--early wheat yields a bit disappointing along with protein levels, ideas 1 ½ million or so acres won’t be planted in Canada due to excessive moisture/delays; Russia/China


2017 WHEAT HARVEST – SUNRISE WILL OFFER THE SAME REDUCED DRYING FEE PROGRAM AS LAST YEAR AT SELECTED LOCATIONS WHICH WAS SHRINK ONLY UP TO 18% MOISTURE

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