Morning Market Insight

Morning Market Insight

04/20/18
Cutter Murray
Grain Marketing Specialist  
 
With increased volatility this spring do you have your targets in to help capture some rallies for your operation? Talk with your local grain marketing specialist to get your targets working for you this spring!

 

Corn as of 7:45: Down 2
Overnight trade keeps corn trading in a 3-cent range. Chinas ag ministry increased corn production up 1% to 218mmt.Warmer drier forecast for corn belt quiets prevent plant talks for now. Sorghum vessels rerouted as antidumping policy takes place. Buenos Aires Grain Exchange pegs harvest at 30% complete with better than expected yields so far. Argentina Ag Minister forecast their corn crop at 42mmt vs 49.5mmt last year.
 
Soybeans as of 7:45: Down 6
Beans overnight trade in a range of 9 cents. Chinas ag ministry increased soybean production 1.9% to 15.18 mmt. Argentina bean harvest is 40% complete this week vs. 16% last year due to the drought. Yields averaged 39 this week vs. 57 this week last year.  Argentina Ag Minister forecast soybean production at 37.6mmt.
 
Wheat as of 7:45 MW -Down 7 KC- Down 8
Forecast rains for the weekend have the wheats on the rebound again.  Rains also forecasted for next week should give much needed drought relief. With weak exports one would guess that yearly carryover stocks will increase. Spring wheat seeding taking place in North Dakota. TPP and NAFTA issues remain important to the US export market.

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