Morning Market Insight

January 4, 2019
Jeremy Vander Vorst
Grain Marketing Specialist


Corn Unchanged to 1 higher
Trade negotiations between China and the US have put optimism in the market, traders expect sales of corn, DDGs, and ethanol if tariffs go down. Yesterday corn traded over the 50 day moving average at 379 and over the 100 day moving average at 377 ¾. USDA reported yesterday if government funding issues are not resolved today they expect to delay the Jan 11 crop report.
 
Soybeans 3-4 higher
Soybean prices trending higher on continued support from lower soybean production estimates out of Brazil and firm meal prices in China. FC Stone released its production estimate for Brazil soybeans at 116.25 million tons which is 1 million below several other analysts. For the week soybean prices are up 20cts.
 
Wheat 3-6 higher
Strength in wheat continues to be tied to recent rain in Argentina as quality concerns continue to mount as they are trying to finish harvest. US wheat is the cheapest in the world and traders are optimistic that we will see an uptick in export activity going forward.
 

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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