Morning Market Insight

June 14, 2018
Abbey Kittelson
Grain Marketing Specialist

CORN – As of 7:45 – down 5
Now that the June USDA report is behind us, traders’ eyes are set on July 12th, when they are already expecting a slight increase in acres, and a steady increase in yield. The weather has been mostly favorable in the US corn belt, after all, although we are expecting some temps over 100 the upcoming weekend. Export inspections out this morning were pegged at 36.9mbu, which was above last week and the expected range.

SOYBEANS – As of 7:45 – down 3
Although it is said that with beans, weather in June is not as important as weather in August, the trade seems to be following the decent weather we have had. This has been pushing the soybean market in a downward spiral, to levels not seen on the November18 contract since last August. Export sales ahead of last week and the expectations at 19.1mbu.

WHEAT – As of 7:45 – KC down 10, MNPLS down 6
Stories in the wheat market have not changed much. Yesterday’s trade mostly corrected Tuesday’s rally, and we are lower overnight as well. Russia remains very competitive on the world market and the US… not so much. Russian/Black Sea production remains a concern, but Russia sold wheat to Egypt. Export inspections in line with expectations at 11.1mbu.

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