Morning Market Insight

December 27, 2018
Travis Antonsen
Producer Marketing Manager


Post-Christmas Winter Storm is snarling travel across KS, NE, and the Dakotas today with strong winds limiting visibility.
 
CORN:  As of 7:45 – Up 3
The DOW achieves its largest one-day gain ever but the celebration looks short-lived as futures are down significantly this morning.  Despite the big rally in equities, the grain markets were looking the other way.  Corn was lower in sympathy with the bean and HRS markets yesterday.  Export inspections were released yesterday despite the government shutdown.  Corn loadings were towards the upper end of expectations at 39.2 million bushels.

 
SOYBEANS:  As of 7:45 -  Up 4
The soybean market took the brunt of the selloff yesterday, closing down 14 on the Jan contract.  It also fell through the 100 day moving average support level (8.78), but did find some traction at the uptrend line around 8.70 (see the chart below).  It was announced that the US will send a trade team to China in early January to continue trade talks.  Soybean export inspections were below expectations at 23 million bushels loaded.

 
WHEAT:  As of 7:45 – MPLS Up 3, KC Up 1
This is the time of the year where we talk about winter wheat’s likes and dislikes…one of its likes is that it does not like roller coaster temps…when wheat goes to sleep it like to stay asleep…roller coaster temps and its associated winds can impact wheat already in dormancy…recent above normal temps this week will give way to normal to below temps later this week.  Wheat export inspections were ‘middle of the road’ at 20 million bushels, with HRS being the most popular class this week at 7.6 million bushels.

 
 

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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