Morning Market Insight

July 16, 2018
Jeremy VanderVorst
Grain Marketing Specialist

 
Corn  Unchanged
Corn traded lower much of the night but found support late this morning. Weakness in the US Dollar index and dryness in Missouri and Kansas are a couple supportive factors. We are also seeing some poor pollination and some tip back from Illinois. On the flip side over the weekend much of the corn belt received ½ to 1 ½ general rain and forecasted temps be trending cooler this week.
 
Soybeans Unchanged
On Friday August soybeans traded to 811 ¾ which has not been seen since 2009. Analysts still not expecting any solution with Chinese trade war anytime soon, which continues to pressure the market. Today we will have a NOPA Crush report and the estimate at 159.63 for June crush if realized would be the largest on record for the month. Crush margins continue to remain profitable.
 
Wheat Down 2-4
Russia Govt lowered projected wheat crop by 20.5 MMT but they continue selling wheat. Alberta reports 75% of the Spring Wheat looks excellent which adds pressure to the spring wheat market. EU wheat prices continue to support Kansas City and Chicago wheat.
 

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