Morning Market Insight

Zach Harry         
Grain Marketing Specialist
Grebner Terminal
 
The May USDA Supply/Demand report is out at 11am!  Do you have your target orders placed to capture any potential market gains on the report release?

Corn- down ¼

There was very little movement for corn as the market awaits the USDA report today. Nearby corn is still above the $4.00 futures with December NC close to the $4.20 futures range. The weekly export sales this morning were weak and below expectations at 27.4 million bushels. There are many farmers in the area making big strides with corn planting nearing the end and ready to switch over to beans.


 
Soybeans- up 3 ½
Soybeans were able to gain some ground on the overnight going up 3-5 cents in certain months. The weekly export sales were withing expectations at 13 million bushels. Soybeans await the USDA report that is coming out today, and also a resolution on the US/China trade talks.
 
Wheat- down 1
Wheat down just slightly on the overnight. Sources say that Argentina farmers are looking to plant more wheat in the next season. The increase in wheat is looking to be about a 5% increase. The USDA report not really expected to shake things up to much with this report, but it is still always worth watching.
 
Some dry areas of the states get a much needed rain with some forecast as much as 1-2” for much of the Midwest.

 

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