Morning Market Insight

December 18, 2018
Zach Harry
Grain Marketing Specialist


Corn- Unchanged
Trade on the overnight is light as the market opens the morning unchanged. Expert crop consultant Cordonieer puts his Brazil production estimate at about 96 mmt, and Argentina at 41mmt. Dry weather in southern Brazil is impacting full-season corn, and much of the crop in this region is pollinating and starting to fill grain.  Production estimates for full-season corn may decline if the dry weather pattern persists.
 
Soybeans- Up 3
Soybeans are trading up 3 on the overnight. The big news is that president Trump tweeted that the second half of the subsidy payment is coming. There is also some chatter that China may have bought another round of 1-2mmt of US soybeans. Even with the news of more purchases, the fact still remains that the US will have a large carryout somewhere around 955mb.

 
Wheat- Down 2
Spring wheat is down 2 on the overnight. The US still has a large supply/carryout and with that being said, we are behind the needed pace for overall US exports.
 

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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