Morning Market Insight

June 11, 2018
Travis Antonsen
Producer Marketing Manager

 
USDA Supply/Demand report is out tomorrow at 11am…..
 
CORN:  As of 7:45 – Down 1-2
After trading slightly higher to start the overnight session, futures have slowely drifted to negative territory this morning.  A little rain overnight with the cold front pushing through the Dakotas with totals in the ½ to 1” range…..Good rains were seen across IL and eastern IA, but missed the dry spots in MO over the weekend.

 

SOYBEANS:  As of 7:45 – Down 3-4
Similar to corn, we are weaker to start the morning.  Lots of political stuff in the markets with the US/N Korea summit in Singapore scheduled to take place tomorrow.  The Brazilian REAL was 4-5% stronger going home on Friday as their government invested $20 billion into the currency.  The 7 day precip map looks for decent precip for MN, WI, IA and the eastern Dakotas.


 
WHEAT:  As of 7:45 – Mpls up 1, KC Up 3
ND got solid rains over the weekend.  In the world price arena…..US wheat was $0.60/bushel more expensive than Canadian and Australian wheat in the Iraq tender.  Watching the USDA report tomorrow on what they do with the Russian wheat crop size estimate.  HRW harvest was in full force over the weekend in KS and elevators are noting higher protein content in this year’s wheat crop.

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