Morning Market Insight

August 31, 2018
Zach Harry
Grain Marketing Specialist


Corn- Up 2
Corn up slightly on the overnight, and we are hoping this carries over into the day trade. Argy harvest is reported at 98% and we are seeing more US harvest begin. September 2018 corn futures on Thursday closed at $3.41—the lowest settlement price for the contract since July 11.



Soybeans- Up 2-3
On the overnight Soybeans are trading slightly better despite another threat of tariffs, with no resolution in sight with China and they appear to show no signs of weakening their stance. We are beginning to hear a few reports of harvest in N MN, SD and ND of the early soybeans. China’s Ag Ministry reports a 5th case of African Swine Fever.
 
Wheat- Up 13
Double digit in spring wheat overnight as we see them up 12-13. Wheat seems to be higher again on Russia export tax/restriction talk and tighter world supplies. Canada and the U.S. harvest is winding down and all but wrapped up, although there is still some activity. With the tightness of the world supply, will we continue to see an uptick in the market?
 

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