Morning Market Insight

1/21/19
Casey Schlechter
Grain Marketing Specialist

 
There will be no markets today due to MLK day. Trading will resume tonight at 7pm..
 
Corn:
Last week ended on positive news from the Chinese trade front with China offering a 6 year import boost of $1 trillion for balance trade. Corn seems to be comfortable in the 20 cent range we’ve been trading in since before harvest. Resistance is holding are 3.86 while the market waits for fresh export news.

 
Soybeans:
A roller coaster of a week ended on a high note with futures rallying 30 cents to end the week and bring soybeans back near the top end of our range. Positive news from China and dry conditions in Brazil fueled the rally in a market that seems content to buy the rumor again. Look to test the recent highs of 9.28.
 
Wheat:
China takes the headline in wheat as well, with rumors of wheat being sold to a private buyer late last week. A good round of business Thursday finally showed the positive export demand that the market has been waiting for. We’re seeing exports moving from the Black Sea Region to the US with exporters willing to pay a premium for US quality.
 

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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