Morning Market Insight

August 14th, 2018
Alek Heier
Grain Marketing Specialist
 
CORN: As of 7:45- Up 2

Seeing a slight recovery overnight after losses from the report on Friday. The upper Midwest is settling in to a dry weather pattern- while the majority of the U.S. is slated to receive a few rains over the next 7 days. USDA lowered its corn ratings yesterday afternoon 1% to 70% G/E with only 10% rated Vp/P. The annual corn and soybean tour starts next week. It should give us an idea if USDA’s record yield estimate is possible.
 
SOYBEANS: As of 7:45- Up 8
Soybeans are up this morning, continuing yesterday’s recovery with meal up on futures and cash. Crop conditions yesterday came in line with expectations, down 1% in the good/excellent category. Pod setting came in at 84% complete vs. the 5-year average of 72%. Farmers in Brazil intend to plant more soybeans, at the expense of other crops such as sugarcane due to the high demand from China. In the past two years, Brazil has increased soybean acreage by 4.9 million while sugarcane acreage has fallen 1 million acres.
 
WHEAT: As of 7:45- MPLS down 1, KC Up 1
Wheat is up this morning recovering from sharp losses the past two days. Spring wheat harvest was reported at 35% complete vs. the 5-year average of 27%. Conditions increased 1% in the good/excellent category. Australia will continue to see dry weather in the eastern part of the country with no rains expected over the next 10 days.
 

Past Morning Market Insights

    September 21st Insight
    September 21st Insight
    Sep 21, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    September 20th Insight
    September 20th Insight
    Sep 20, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    September 19th Insight
    September 19th Insight
    Sep 19, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    September 18th Insight
    September 18th Insight
    Sep 18, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    September 17th Insight
    September 17th Insight
    Sep 17, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    September 14th Insight
    September 14th Insight
    Sep 14, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight

Subscribe to Receive Morning Market Insight Email