Morning Market Insight

April 25, 2018
Travis Antonsen
Producer Marketing Manager
 
The enrollment deadline for the Soybean Market Base Builder program is next Monday, April 30th……contact your nearest Agtegra location or Grain Marketing Specialist for details.
 
CORN:  As of 7:40 – UP 2
Corn closed 2¾ higher yesterday with a late session push as some weather models put rain in next week’s forecast, possibly pushing back planting progress.  The 5-day precip map looks conducive for planting progress for those areas who have soil temps that are warm enough to go. 


 
SOYBEANS:  As of 7:45 – UP 3
May soybeans held the support level at the 100 day moving average yesterday (10.16) and finished a couple cents higher.  Interesting to note that Argentina bought 2 cargoes of soybeans from us yesterday, one for this crop year and one for next.  This year’s soybean crop is estimated at 39MMT with ideas that it may be lower.


 
WHEAT:  As of 7:45 – Mpls UP 1, KC UP 3
The HRW market was the shining star yesterday as the KC May contract finished 9 cents higher…..mostly on the lower crop conditions that were reported on Monday afternoon.  Some reports/pictures of freeze damage to the crop in the southern plains, not sure how widespread the impact will be at this time.  Mpls was also higher by 4-5 cents as planting progress lags in the Dakotas/MN, but looks to get going later this week.
 


 

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