Morning Market Insight

Brad Olson
Grain Marketing Specialist

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Corn:  As of 7:45-  2-3 lower

A warmer/ drier forecast helping support this market yesterday before giving ½ of it back overnight as seasonally high crop rating help mitigate some of that risk. Technically momentum looks to remain bullish for now as many folks are taking advantage of the contra seasonal rally to move both old and new crop.

Soybeans:  As of 7:45-  15-16 lower
 A warmer /drier forecast catapulted this market higher yesterday as we move into the critical Aug timeframe. There was also help from talk about talking with Chinese trade. For now, it appears to be just that- talk about talking. Overnight we look to be giving over ½ of those gains back as the euphoria looks to have lessened.

Wheat:  As of 7:45-  Winter 5 higher, Spring 3 higher
 More of same yesterday and overnight, we keep to positive side of the margin on production concerns for the Black Sea /Eastern Europe production areas. With these production concern when do we start to see some of that business? Winter Wheat harvest finishing up and Spring getting ready to hit full steam in the days to come. Early HRS protein looks to be on the higher side. 

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