CHICAGO CORN MARKET was downed by 0.6% today. Not much news today. Everyone is waiting for USDA REPORT tomorrow. Players were busy to square off their positions for the USDA REPORT.
USDA reported export sales numbers of the week of Oct 3rd, totaled 1.2 MILLION TONS and it was well above the same week last year. 371K TONS to UNKNOWN destination, 330K TONS to Mexico and 249K TONS to Columbia.
TURKEY announced that they would allow 5% of corn import tariff until the end of the year, up to 1 MILLION TONS, their current import tariff is 130%. So, let’s wait for USDA numbers tomorrow, not much to ,mention today.
CHICAGO WHEAT MARKET was up again. SRW PRICE was up 0.8%, HRW PRICE was up 0.4% and HRS PRICE was up 0.2%. Another noise day from Russia. Russia government would revise their wheat crop production numbers to the lower side due to the poor harvest in Siberia regions and they would set the certain limit the export of wheat and grain this year. But, beware, it’s Russia.. Argentine’s Rosario Grain Exchange cut down its wheat production number by 5% to 19.5 MILLION TONS, 1 MILLION TONS less than a month ago.
