Morning Market Insight

July 19, 2018
Jeremy VanderVorst
Grain Marketing Specialist
 
Corn down 1

Recent rains and a cool down in the forecast has put additional pressure on the market. The extended models look to cool off and offer chances for moisture in the forecast. Demand for corn remains strong as was seen in the weekly ethanol numbers released yesterday. Crude oil under recent pressure over the last few days could also be putting pressure on the market. Seeing some dryness showing up in China’s major growing region which may garner attention going forward.

Soybeans down 4
Soybean market has been fairly rangebound this week as we do not see any progress on trade relations with China. Weekly exports showed an uptick in new crop soybean sales as we have seen strength in Brazilian soybean premiums.

Wheat up 2
Starting to see some spring wheat harvest activity in South Dakota and Montana. No production threats in the US has caused the market to trade rangebound this week. We are seeing some production issues in Russia and the EU.
 

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