Morning Market Insight

June 8, 2018
Brad Olson
Grain Marketing Specialist                                                         

Corn: as of 7:45- steady to 1 higher
Despite solid export numbers generally favorable weather and spillover weakness from soybeans pressured corn to the lowest level we have seen since Feb. Next Tuesday we get an updated USDA WASDE report- will there be any yield changes?? Trade negotiations hang over this market as well. For now stay tuned to the weather forecast. Tis the season…
Soybeans: as of- 3 lower
Probably the biggest news to hit the soy complex yesterday was the dip in the Brazilian REAL settling 2% lower and the lowest it’s been for 2 yrs. Vs. the US dollar. A weak Brazilian currency will make Brazilian products cheaper for the world and will entice farmer selling there. Disappointing exports as well helped fuel the fire lower yesterday through overnight. Weather remains generally favorable.
Wheat: as of 7:45- Spring 3 higher, Winter 1 lower
Corn and beans couldn’t keep this market down yesterday as continued concerns about Ukrainian and Russian wheat crop props this market up. US still has a large carryout so ultimately not sure what needs to happen to shrink that. HRS area’s needing rain the most seem to have gotten a band aid for now.

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