Morning Market Insight

June 18, 2018
Alek Heier
Grain Marketing Specialist
 
Now may be the time to revisit your pricing expectations. Contact your nearest Grain Marketing Specialist to discuss your options.

CORN: As of 7:45- Down 3
The corn market continues to see weakness as favorable growing weather across the corn belt is slated to continue over the 5 and 7 day precip models. Corn is sitting close to its lows, but we were able to stay above the new contract low from last Friday. Trade talk has also continued to take the drivers seat with China’s list of retaliatory tariffs to include corn, although they don’t import that much corn.


SOYBEANS: As of 7:45- Down 2
Trade, Trade, Trade- China’s retaliatory tariff threats had little impact overnight, although they continue to be a weight over the market. July soybeans sit just above $9.00- beans haven’t traded below $9.00 since the spring of 2016 in the nearby. Brazil soybean premiums have also gained strength as a result of the ongoing U.S.-China conflict over trade. Weather also continues to be favorable in the soybean market with decent precip expected across the belt.


WHEAT: As of 7:45- Mpls down 1, KC down 8
Continuing with the pattern set by corn and soybeans: The trade conflict with China is continuing to hamper the wheat market at is too is listed as a retaliatory tariff that China would impose. Harvest pressure has also put a damper on the wheat market. U.S. supplies are still very high with no one to buy them. South Korea has halted imports from Canada, and Japan also did so last week.
 

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