Morning Market Insight

December 20, 2018
Zach Harry
Grain Marketing Specialist


Corn- Up 1
Another overnight in the corn market with a very light trading range. The weekly export sales estimate is around 1.8 mmt to 2.3 mmt. Ethanol still continues to struggle with poor margins, with reports that some Pacific ethanol idles at a Nebraska plant and lays off people.

 
Soybeans- Up 2
There is a small uptick from the overnight coming into this morning’s open. Reports that China is set to buy another 2mmt. All that China is purchasing is subject to the tariff, because it is going into their state-owned reserve, and we seem to be getting closer to the 5mmt that was talked about being purchased from the US. Continuing talk of dryness and heat in Brazil is pressuring the early season soybean yield and production.
 
Wheat- Up 4
Wheat tries to rebound somewhat in the overnight as it has been a bit of a choppy trading range as of late. A couple US firms offer Romania wheat, with only 1 cargo of US HRW offered. The weekly export sales are estimated to be around 500tmt to 700tmt.
 

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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