Morning Market Insight

1-16-19
Brad Olson
Grain Marketign Specialist

  
Corn as of 7:45-2 higher
The corn market finally surcoming to the lack of fresh news and technical pressure yesterday, selling off 7c. Funds estiamted sellers of 20,000 contracts. Overnight things look to be overdone a bit as we are getting roughly half of yesterday’s losses back. Argentina corn produciton estimate left unchanged at 40.5 MMT as planting is nearly completion.
 
Soybeans as of 7:45- 5 higher
Continued concern about trade relations weigh heavy on this market. A firm dollar also helped fuel the fire lower yesterday. Brazilian dryness and Argentine wettness seems to be played out for now. Argentina crop estiamte left unchanged at 56MMT. Overnight NOPA crush numbers released yesterday looks to be helping regain some value. NOPA estimates a stout at 171.8 exceeding expectations.
 
Wheat as of 7:45- 1 to 3 higher
Wheat was a follower of row crops. Dryness in Eastern Europe seems to be less of a concern these days. US looks to be competitive on the global stage but we still await significant business. 
 

 
 

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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