Morning Market Insight

July 9, 2018
Brad Olson
Grain Marketing Specialist

Corn:  As of 7:45-  5 lower
Friday’s gains attributed to spillover support from the soy complex while overnight we look to be giving some back to start as Friday may be seen as a bit much. US corn remains competitive globally and there is now talk that if world wheat stocks decrease that may leave an opening for increased feeding of corn. Counter that with crop conditions looking to remain favorable as we approach the critical pollination period.
Soybeans:  As of 7:45-  10 lower
Fridays 38c gain was pleasant but surprising to many. Technically we posted a key reversal higher on the charts as tariff rhetoric continues. Maybe the market beat that drum enough?? S&D report out on the 12th and looks to incorporate some tariff implications… Crop conditions remain generally favorable. 
Wheat:  As of 7:45-  4-5 lower
Concern over decreasing global stocks has perked this market up the last few sessions. Overnight ample US stocks and harvest seems to be giving back some of those gains to start the day. Export inspections out at 10am and crop conditions/ harvest progress out at 3pm.

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