Morning Market Insight

June 19, 2018
Alek Heier
Grain Marketing Specialist
 
CORN: As of 7:45- Down 8
We are continuing to see weather and crop conditions play a large part in the markets. Crop conditions improved this week 1% back to 78% G/E with only 4% rated VP/P. The U.S. has authorized another 10% tariff on $200B worth of Chinese goods- with China vowing to retaliate. The market also weighs the potential for yield and acres increasing.

SOYBEANS: As of 7:45- Down 23
The bean market blazed the trail lower in the overnight on continuing trade tensions between the U.S. and China. July beans are nearing their contract low of $8.76 ¾ . November beans are closing in on the $9.00 mark. USDA estimates the soybean condition at 73% G/E, down 1% from last week. USDA also reports planting at 97% complete, compared to the 5 year average of 91% complete.

WHEAT: As of 7:45- Mpls down 4, KC down 12
Spring wheat conditions improved 8% according to the USDA report, rating it at 78% G/E. Trade talk and U.S. winter wheat harvest continues to push the market further down. Harvest is pegged at 27% complete this week compared to the 5 year average of 19% complete. Winter wheat planting was also reported at 95% complete, which is in line with the 5 y

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