Morning Market Insight

December 21, 2018
Zach Harry
Grain Marketing Specialist


Reminder: Markets will be open until Noon on Monday, Dec 24th.

Corn- Up 1
Corn was lightly traded on the overnight as it is up only 1 this morning. The overall demand for U.S. corn remains strong globally, but the domestic use is seeing some problems as the ethanol industry is dealing with poor margins and pull back on grind at some facilities. On the technical side of things, March 19 futures sits below its 100 day MA of $3.79 and the 50 day MA of $3.80 ¼.

 
Soybeans- Down 1
Light trade on the overnight with soybeans down 1. Some U.S. soybeans reach China ports, and U.S./China trade has not quite reached the 5mmt level yet. Though another round of purchases is expected, it seems like a large percentage of all the news was already factored in nearby. Its your classic “buy the rumor, sell the fact” scenario.
 
Wheat- Down 1
Spring wheat is down 1 on the overnight. Austrailia is harvesting right now, as we add to the global supply, although their crop was reduced by a bit of a drought. Argentina harvest is figured to be about 68% complete.
 
Safe Travels to everyone this weekend and through the holiday season!

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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