Morning Market Insight

January 14, 2019
Brad Olson
Grain Marketing Specialist
                                                        
 
Corn as of 7:45- steady
Talk of the possiblity of export business and ethanol margins coming around a couple of cents helping keep this market firm Friday into Sunday night. This despite soybeans remaining weak. The goverment shut down delayed Friday’s Dec stock and final production report and the lights stayed on and we continue to trade. Technically we continue to trade in a range with no real direction from momentum indicators.

 
Soybeans as of 7:45- 6 lower
China/US trade talks came and went with real resolution. Trade talks look to resume towards the end of the month. Brazilian production estimate continue to slip but still seen as adequate with harvest estimates at 3.2%. Argentine crop estimated rated at 49% g/e. The promised Chinese business did come last week bringing the total up to 5 mmt but many fearing that might be it for now. Technically this looks weak with momentum indicators bearish with SH9 support at 8.80.

 
Wheat as of 7:45- 3 lower
Friday’s strength didn’t seem to translate into Sunday night as are little weaker this morning. Ideas of from lower acreage estimates and optimism that some global demand is coming back to the US. US looks now to be competitive in the world market. HRW acres could be the lowest since we started recording data as we await the delayed USDA report for affirmation of this idea.

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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