Morning Market Insight

July 3, 2018
Zach Harry
Grain Marketing Specialist

Have a safe and happy 4th of July!!!
Corn- Up 4
After coming out of yesterdays new lows, corn is up 4 on the overnight with the hope this positive movement carries over into the day market. Domestic and export demand are strong, but US production feels like it is on verge of getting larger. Crop ratings declined 1% to 76% G/E with summertime weather being pretty normal and favorable in the U.S.

Soybeans- Up ½-1
There is little movement on the night trade with the trade war between the U.S. and China still center stage with the trade deadline of July 6 only a couple days away. US weather is good,  and the USDA dropped ratings 2%, but August is the month for beans to shine.
Wheat- Up 11
Wheat was higher on yesterdays overnight but couldn’t hold, so will it hold higher today? Right now wheat is centered around world weather concerns for wheat areas, and many are wondering if the market will be bullish because of this.

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