Morning Market Insight

May 7, 2018
Zach Harry
Grain Marketing Specialist
Grebner Terminal

 
Corn- Down 3
Although Corn is weaker on the overnight, July futures remain above $4.00. Weather patterns appear to be shifting as some rain benefits the second crop in Brazil. Planting progress is expected to be around 35-37% complete. Look for this week to increase those numbers as many farmers with be full steam ahead on planting in the coming week.
 
Soybean- Down 6 ¾
Soybeans are under pressure as the US/China trade talks didn’t come to any kind of resolution. Soymeal is also under pressure as Argentina exports expected to be drought reduced. US planting progress is about 12-13% complete.
 
Wheat- Down 7 ¼
It continues to be dryer than normal in the southern states. Planting progress for spring wheat is  considered to be about 50% complete.
 
 

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