Grains are slightly higher following the USDA Quarterly Stocks Report and Small Grains Summary.  Jim McCormick, AgMarket.Net says the corn stocks were friendly under expectations at 1.76 billion bushels due to better feed demand and supporting corn.  A close above $4.25 could open the market to more technical buying.  Soybean stocks came in at 342 million bushels, close to estimates and the September WASDE.  So, here Brazil weather is the key moving forward and will determine if November can get above the 100 day moving average.  Wheat stocks in all positions was slightly above estimates at 1.99 billion bushels, while all wheat production came in at 1.97 billion bushels, slightly lower than August.  McCormick says U.S. and global weather and production concerns will now take center stage.  

Grains are slightly higher following the USDA Quarterly Stocks Report and Small Grains Summary.  Jim McCormick, AgMarket.Net says the corn stocks were friendly under expectations at 1.76 billion bushels due to better feed demand and supporting corn.  A close above $4.25 could open the market to more technical buying.  Soybean stocks came in at 342 million bushels, close to estimates and the September WASDE.  So, here Brazil weather is the key moving forward and will determine if November can get above the 100 day moving average.  Wheat stocks in all positions was slightly above estimates at 1.99 billion bushels, while all wheat production came in at 1.97 billion bushels, slightly lower than August.  McCormick says U.S. and global weather and production concerns will now take center stage.

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets.

Markets Now with Michelle Rook

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets.