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....
 

Past Morning Market Insights

Subscribe to Receive Morning Market Insight Email