Morning Market Insight

August 16th, 2018
Zach Harry
Grain Marketing Specialist
 
Corn- Up 3
Positive movement on the overnight as corn is up 3 in relation to the soybean optimism with China. December 2018 has been trading in roughly a 20 range in the past 30 days. Ranging from $3.70-$3.90 futures in the window. December 2019 corn futures trading above the $4.05 mark as of this morning. Everyone across the region could use a good rain, and it looks like we are set to receive some this coming Sunday.


Soybeans- Up 17
The overnight was good to the soybean market as news of China and The U.S. trade talks are to resume later in August. China’s Vice Minister is set to travel to the U.S. which is buying some enthusiasm in the market. Central U.S. is expected to receive some rains this coming Sunday, which is a must because many areas are in need of a rain.
 
Wheat- Up 8
Spring wheat seemed to be a bit choppy and volatile in the overnight getting some strength from the soybean news. Spring wheat harvest begins to wind down across the U.S. and meanwhile Australia is dry, Canada is dry, Europe has been dry, and the Black Sea has some production worries as well. What does this news mean for the SW market? Will it continue to trend upwards?

 

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