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Friday, May 20, 2016

Wake Up Call Allendale Advisory Center

Wake Up Call Allendale Advisory Center: Paul Georgy with the early morning commentary for May 20, 2016.

Grain markets are higher�on repositioning after NOAA's weather update and the US Dollar rally pressured grains yesterday.

Weekly Export sales were out yesterday, and corn sales were reported at 2,013,828 metric tonnes (1,473,148 old crop 540,680 new). This beat the trade's expectation of 1.0 - 1.6 million. The current year to date sales pace is 9% over the five-year average.

Soybean sales totaled 714,635 metric tonnes. They were within the trade expectation of 350,000 - 750,000. Year to date sales are also 13% over last year.