Morning Market Insight

December 19, 2018
Zach Harry
Grain Marketing Specialist


Reminder: Agtegra's Annual Meeting of the Members is at 1:30 pm today at the Innovation Center just east of Aberdeen.  

Corn- Down 1
There wasn’t much movement overnight as corn is down one with a very small trading range. Argentina corn production estimate for 2018/19 is unchanged this week at 41.0 MMT vs. 32.0 MMT last year. There have been some good mini rallies lately as corn hangs around that $3.30 cash at shuttle loader locations and $3.40-$3.45 at ethanol facilities.
 
Soybeans- Down ½
Just like corn, there was little movement overnight with a small trading range as well.  Argentina soybean crop estimate is steady at 57.0 MMT.  Planting progress is at 68% v. 67% for the 5-year avg. Argentina is also looking at another 1-2 inches of rain in the northern areas.
 
Wheat- Down 2
Light trading overnight on spring wheat as is opens the morning down 2. Right now in the U.S. on all wheat, exports are moving at about 15-20 mbu per week. Will wheat acres stay the same as recent news with optimism on China deal, or will some soy acres switch to wheat?
 

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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