Morning Market Insight

December 17, 2018
Zach Harry
Grain Marketing Specialist


Corn- Up 3/4
It was a pretty quiet trade overnight for corn as it only had a trading range of 2 ½ cents. China reports more cases of African Swine Flu, so the corn demand stalls for them, for the time being. Will trade negotiations also lead to DDG’s and ethanol exports to China? Early soybean planting in Mato Grosso, Brazil to support early safrinha (double crop) corn planting in 2019.\
 
Soybeans- Up 3
Soybeans are trading up 3 on the overnight as trade optimism continues to support the soybean market. How many soybeans has China bought? How many will they buy? Widespread dryness has developed over the last 2-3 weeks for southern Brazil soybeans. Reports are coming in of poor germination and spotty stands, especially for the later planted soybeans. It looks as though the drying will continue for approximately 4-7 more days with some rain to follow.
 
Wheat- SW Up 1-2
On the overnight, we saw a firm trade, as wheat futures remain choppy. Heavy rain impacts central and northern Argentina this week, but southern areas only receive a few showers and thunderstorms within a cool period.  This should aid drying for wheat harvesting in Buenos Aires. MWH, KWH and all remain at the top-end of their 30-60 day trading range.
 

The information contained above was taken from sources which Agtegra believe to be reliable, but is not guaranteed by Agtegra as to accuracy or completeness and is made available for information purposes only. There is a risk of loss when trading commodity futures and options.
 

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