Morning Market Insight

January 3, 2019
Jeremy Vander Vorst
Grain Marketing Specialist


Corn Unchanged to 1 higher
Rain continues to fall in Argentina and a local consultant estimates 15% of corn acres are currently unplanted. Pacific Ethanol plans to idle a portion of its ethanol plant in Aurora, NE, over the next few weeks as many in the industry face weak margins. Brazil corn exports for the month of December fell by 18% to 23 million tons as newly enacted truck freight rules make transportation costs more expensive.
 
Soybeans 3-4 higher
A wet forecast for Argentina could cause localized flooding for the second time in the last several weeks which would cause planting delays. The USDA will make a decision on Friday whether to delay the crop reports scheduled for January 11th. Yesterday traders were talking about COFCO, a Chinese food processing company looking for offers of US Soybeans for export. Brazil soybean exports for the month of December were much higher than many anticipated.
 
Wheat 3-6 higher
Recent drop in wheat prices have made US wheat more competitive in the world export market, however we have not seen an uptick in exports in recent weeks. Ukraine wheat exports are currently running behind by 7% compared to last year.

 

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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