Morning Market Insight

May 25, 2018
Jeremy VanderVorst
Grain Marketing Specialist

Corn 1 higher

Today will be key for the corn market as yesterday we seen the market sell off from contract highs as funds sold 8,000 contracts late in the trading session. Planting progress on Tuesday looks to be near 95% complete so I would not expect any surprises on the planting progress report. 90 degree temps this weekend have many traders concerned going forward as we have been below normal precip in the eastern corn belt
 
Soybeans 4-5 higher
For the week we have seen soybeans trade 43 cents higher. Traders still optimistic on trade resolution with the Chinese delegation. With recent bean rally we have become uncompetitive with South American values. Trade will keep watch on Argentina as harvest of poor quality soybeans continues.
 
Wheat 5-8 higher
Reports coming from the Texas area of customers saying no need to come harvest winter wheat as the crop is a near failure. Weekend temps are going to see common 90 degree readings this weekend in the plains. Keep a close watch on rain forecast for the upper plains as precip is forecasted next week. Rain totals will be crucial after the above normal temps this weekend.
 

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