Morning Market Insight

April 27, 2018
Travis Antonsen
Producer Marketing Manager

The enrollment deadline for Soybean Market Base Builder Program Is Monday, April 30th……Contact your nearest Agtegra location or Grain Marketing Specialist for details.

CORN: as of 7:45 – Up 1
A quieter day in corn yesterday as export sales were somewhat disappointing.  Unshipped sales were up for the week and are at a record level for this time of year.  The Dec corn futures have quietly climbed back above the 20 day moving average and are only 4 cents off the early April highs.  Warmer temps and drier conditions through the weekend will help get fields warm and fit for planting, however we are looking at some widespread precip for mid to late next week as shown in the 7-day map below the soybean commentary.

SOYBEANS:  As of 7:45 – Down 6
Soybeans closed up a ½ cent yesterday.  Some more news out of the T6 export terminal in Argentina that was mentioned in yesterday’s Morning Market Insight……it may take up to a year to fix the damage done by the ship that collided with the loading structure.  This terminal does have 2 berths, but shutting down one will cut SBM export capacity and elongate the wait times.  Argentine soybean harvest is at 54% complete vs. 40% on average as of this date…..does a small crop mean faster harvest?

WHEAT:  As of 7:45 –  Mpls down 6, KC Steady
The KC and Mpls markets gave back the gains made on Wednesday, despite OK export numbers.  Stats Canada numbers fresh off the press this morning show lighter than expected Soybean and Canola acreage and a BIG jump in HRS acreage to the tune of 2.5 million acres over expectations.  The Mpls market dropped 6 cents when this hit the newswires at 7:30am.

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