Morning Market Insight

8-8-18
Brad Olson
Grain Marketing Specialist

 
Corn:  As of 7:45-  1 higher
Trade looks to be in wait and see mode with the USDA WASDE report will be released Friday. Crop ratings dipping Monday night slightly but still healthy leading to ideas of an increase in production. Harvest starting off in the SE. Ave. trade estimates for Friday at 176.2 bpa and US ending stocks at 1.636. 
 
Soybeans:  As of 7:45-  3 higher
A decrease in crop ratings and the announcement of a 145 tmt sale to unknown yesterday helped the market perk up yesterday. As with corn the market is anxiously awaiting Friday’s report. Ave. trade estimate at 49.6 bpa and US ending stocks at a stout .638.
 
Wheat:  As of 7:45-  Winter 2 higher, Spring 5 higher
Path of least resistance still remains higher as continues concerns of Black Sea are production battles with a US HRS harvest that looks to pick up steam this week. Ave estimates for US ending stocks in Friday’s report are .961d down from 1.552.
 

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