Morning Market Insight

December 28, 2018
Travis Antonsen
Producer Marketing Manager


CORN:  As of 7:45 – Up 1
USDA's weekly export sales report, which had been scheduled for release on Friday, has been postponed indefinitely due to a partial shutdown of the U.S. government.  Cash trade has been quiet with the holidays.  Looking at world corn values this week, Ukraine is $12/ton cheaper ($.30/bu) than US corn into Japan and Arg/Brazil corn would be $4/ton ($.10/bu) less on a delivered basis.  Will we be able to keep pace with last year given the current situation?

 
SOYBEANS:  As of 7:45 – Up 4
Soybean futures closed lower for the sixth session in a row yesterday, with nearby Jan19 soybeans finishing down a penny.  Despite some recent rain relief in parts of South America, concerns over recent drier forecasts in parts of central and southern Brazil have some analysts paring back production forecasts. Below is the March chart and shows we are right at trend line support.  The drop in futures is also giving us the opportunity to lift the ceilings off of the July Min/Max contracts we did in mid-Dec.

 
WHEAT:  As of 7:45 – MPLS Up 5, KC Up 1-2
The wheat markets struggled for much of the session but managed to close at or above unchanged for the day.  The March Mpls contract made new lows yesterday before finishing 3 cents higher on the day.  This turned some technical indicators and we are another nickel higher this am.

 

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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