Kleist Comments

MORNING GRAINS 8/27/13

Corn:

Exports: So. Korea in 40-70,000t opt/org.

Comments: So far the electronic trade looks all consolidation as corn ratings come in as expected at 59% gd./excel. vs. 61% week ago; So Korea’s tender alluded to above apparently after rejecting a similar quantity of feed wheat (prices); open interest fell 5,270 led by Sept./Dec. Off 10,000 combined, volume heavy (suggesting a change?).

SOYBEANS:

Exports: None Visible.

Comments: 58% gd./excel vs. 62% prev. week about as expected; weather forecasts still

hot & dry but possible storms here Wed., Friday/weekend (door being opened?) ; ‘Tis time to bring up my favorite phrase of “…the Lazarus Beans” and will it work this time? Open interest little changed amid large volume.

Wheat:

Exports: Japan in 51,800t opt/org.

Comments: Spring wheat harvest 48% vs. 54% avg., gd./excel. 67% up 1%.
Quiet.

Kleist Comments

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

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