Morning Market Insight

Morning Market Insight

Morning Market Insight
Cutter Murray
Grain Marketing Specialist

Corn as of 7:45: Down 2 
Overnight trade keeps corn trading in a 2-cent range. Above average precipitation for the month of April should keep traders on their toes as concerns about planting progress start to materialize. Planting Progress expected to come in at 3-4% today. Exports out today with Corn needing 56.3 mbu we seen 76.3 last week. Milo needs 4.0 with excellent exports last week of 9.7. China sold 6.2mmt of corn from reserves last week.

Soybeans as of 7:45: Up 3
Beans overnight trade in a range of 7 cents. Brazil harvest is estimated at 87% complete with Argentina soy harvest is estimated at 25% complete. Combined soybean production of Argentina-Brazil-Paraguay is projected to be 6.0 billion bushels, or 37% larger than the record U.S. 2017 soybean harvest of 4.3 billion. Export Inspections released this morning Soybeans needing 25.0 mbu we seen 13.7 last week. NOPA crush released later today with average guesses coming in at 168.247mb.
Wheat as of 7:45 MW -Down 4 KC- Down 10
Widespread moisture falls on the plains helping relieve drought. Late planting for North Dakota and Montana may force more spring wheat into the mix with less corn acres up that way. Wheat exports of 22.1mbu needed last week we had 15.8mbu. Still have wheat in the bin? Never hurts to know exactly what you have in the bin. Contact your Local grain marketing specialist and ask about our bin probe truck and our bin probe guarantee.

The information contained above was taken from sources which Agtegra believes to be reliable, but is not guaranteed by Agtegra as to accuracy or completeness and is made available for information purposes only. There is a risk of loss when trading commodity futures and options.

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