Kleist Comments

MORNING GRAINS 10/18/13
MORNING GRAINS 10/18/13

Corn:

Exports: None Visible

Comments: Apparently, the USDA will release weekly export sales reports at 2:00 cdt, no telling what weeks it will cover; no S/D report until November 8th; open interest little changed in total and individually amid light volume.

SOYBEANS:

Exports: Sold China 222,000t and Unknown 140,000t’s soybeans.

Comments: Weekly export sales after the close apparently; some support as China’s GDP comes in strong and the overnight sales; CPO might see lessened China demand as soyoil prices quoted $154t under palm oil; open interest rose 1,700 even as November fell 9,000 amid good volume; November keeps swing the gates open over $13.00 and many times means a close over in the works; look to roll call options on hedge equity protection.

Wheat:

Exports: Sold South Korea 23,000t.

Comments: Apparently Argentina in for another freeze blowing up the wheat’s skirt this morning but not all forecasters in agreement; but with that talk Argentina will halt exports but boys I think that’s old news as per Brazil buying U.S. the last several weeks; Russian Ag Min. says lagging plantings picked up in latest week; one Argentine forecast says major southern crop areas improved though northern areas need more rains (of course); open interest little changed in total though volume improved to moderate. December Chicago another go at $7.00’s?

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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