Morning Market Insight

June 15, 2018
Travis Antonsen
Producer Marketing Manager
 
CORN:  As of 7:35 – Down 6
Pulled lower by the action in soybeans overnight.  Farmer selling has ground to a halt and basis levels continue to strengthen to encourage more movement.  Forecast models are putting a large amount of moisture into the central US over the next 7 days as the remnants of ‘Bud’ push through.  Would be very beneficial for most in the Dakotas/Mn.


 
SOYBEANS:  As of 7:35 – Down 20
All focus is on trade developments and late yesterday an announcement was made by the Trump Administration to approve the $50 billion in tariffs against China.  The market did not like that overnight and is lower this morning.  Unfortunately this is overshadowing everything else in the market this morning.
 
WHEAT:  As of 7:35 – Mpls Down 5, KC Down 12
The wheat markets are also feeling the effects of the trade dispute as the KC was down double digits overnight and Mpls was a nickel lower.  Reports that Japan has halted imports of Canadian wheat due to the discovery of genetically modified wheat in an Alberta field.  It was reported to be outside of a growing field and stated that it is highly unlikely that any commercial contamination is possible.  Stay tuned on this one....
 

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