Morning Market Insight

August 17th, 2018
Zach Harry
Grain Marketing Specialist
 
Corn- Unchanged
There was little movement on the overnight as corn is unchanged as we open markets this morning. Scattered rains move across the corn belt, and for northeastern SD it appears as though Sunday is the day of rain. Combined unshipped export sales of U.S. old-crop and new-crop corn as of Aug. 9 stood at 618 mbu, which is up 70% from 363 mbu at this time a year ago.
 
Soybeans- Down 3
After a strong day for beans yesterday, they open up this morning down 3 on the overnight. Seasonable to slightly warmer weather is forecast for U.S. soybeans for late August. The bean crop is in need of a good rain to really finish off the growing season. Here is a 7 day forecast for the U.S.


Wheat- up 19
September 2018 spring wheat is up big on the overnight, and this morning is set to open up 19 cents. Rumors that Russia was considering a limit to wheat exports is what shook the market, although Russia was quick to dismiss  the rumor. This was still enough to put a  little bit of fear into the trade that there might just be a limit to the supply.
 

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