USDA – Compared to two weeks ago, feed grade corn demand good, trading 88 cents higher as feed mills fill positions to get to new crop. Forward contracting active. Feed grade soybean demand and activity very light. Light forward contract activity. Soybean meal demand and trade activity good. Soybean oil trade too limited to trend, but steady undertones noted.
Food wheat demand and activity light with prices reflecting SRW and HRW low protein wheats. Feed wheat demand light on active trade. Prices reflect HRW, HWW, and SRW wheats. Feed oat demand moderate on light trade. Feed barley demand and trade moderate. Trade inactive on food and feed grade rye, sorghum, triticale, and millet.
Few trades on organic garbanzos. Growers are expecting yields to be slightly lower than last year but better than earlier estimates. The NASS National Crop Progress Report for week ending 9/24/17, shows corn harvested 11 per cent; soybeans harvested 10 per cent; sorghum harvested 32 per cent; winter wheat planted 24 per cent.
*To see the full market report courtesy of the USDA, click here.
*All prices listed in US dollars