On the Grains
Harvest pressure as we turn the page towards the weekend could be the theme for today and tomorrow. There is basically zero chance of rain to slow anybody down in the Corn Belt. Yesterday’s release of a well followed brokerage house came in at 184 bpa on corn was up 1.1 bpa. While corn didn’t react yesterday to this I’m sure we will have some sort of a breather heading into the weekend. EIA ethanol production numbers were positive yesterday as well. Traders were expecting a slightly lower print yet got a 21,000 barrels per day increase, currently at 1.015 mbp. Flash sale have been positive, 195,000 MT announced yesterday morning, and weekly export totals released this morning will be watched closely.