Morning Market Insight

July 6, 2018
Zach Harry
Grain Marketing Specialist


Corn- Up 1
Corn up on the overnight one to two. Ethanol grind is a total of 1,067,000 barrels/day for week ending of June 29. This is down 5% though v. prior week but up 5.2% v. last year. Recent heavy rains resulted in ponding and saturated conditions that could result in some problems for corn, especially in central and northern IA, southern MN, eastern SD and northeastern NE .
 
Soybeans- Up 1
Soybeans end the overnight up one even with the news of the tariffs going into effect as of midnight last night.  The big question is how long does it last, and does it last long enough to see lasting loss in the market. The most likely scenario over the next two weeks across soybean production areas of the central U.S., is for temps to average moderately warmer than normal. 
 
Wheat- Up 1
Spring wheat up one overnight after a good day yesterday with double digit gains. some fundamental buying based on prod and quality concerns arising in Europe, Black Sea, France, Germany, Russia and Australia. Overall U.S. spring wheat crop is reported to look very good!

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