Morning Market Insight

January 15, 2019
Brad Olson
Grain Marketing Specialist
                                                        
 
Corn as of 7:45- 1 higher
Corn managing to stay in the black yesterday slightly as talk of dryness in Brazil, particularly the areas of the safrinha ( double crop area). Export inspections at 1.01 mmt exceeding ave estimates of 500-900 tmt but still trailing the amount needed weekly to meet USDA annual estimates. The trade is still waiting for a large purchase from China.
 
Soybeans as of 7:45- 2 lower
The lack of trade progression from last week’s US/China talks followed through yesterday as we have very little new to talk about. Export inspections did come out at 1.02 mmt exceeding ave estimates of 625-950 tmt. Brazilian weather will continue to be watched but doesn’t seem to get much traction today for the bulls out there.
 
Wheat as of 7:45- 1 lower
Very little news for the wheat complex as it seemed the path of least resistance was lower following soybeans yesterday. Snow cover in the southern plains expected to help insulate the winter wheat crop. US seems to be competitive in the world but the anticipated slowdown of Russian exports has yet to show up. Export inspections at 546 tmt exceeding  ave estimates 250-400 tmt.  
 

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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