Morning Market Insight

Zach Harry
Grain Marketing Specialist
Grebner Terminal
 
Corn- down ½

There was little movement in the overnight as corn is only down a half cent with the USDA monthly report coming out tomorrow. Brazil’s second crop is looking a little more improved past May 15th with conditions of some rain in the near future, and the moisture is a must for them as many traders estimate a reduced crop. July futures stays above $4.00 and December NC is approaching the $4.20 mark. U.S. producers are actively planting corn although a few areas have received some rain slowing the planters down some.
 
Beans- down 2
It was a quiet overnight trade as U.S. farmers continue to get beans in the ground ahead of tomorrows USDA report. The USDA report will have its work cut out trying to estimate South American soybean production as well as Chinese demand. There is still no resolution with the US/China trade talks, and sources say trade relations are still not smooth as a threatened tariff deadline approaches.
 
Wheat- down 2 ½
With wheat lower again on the overnight, $6.00 has once again slipped away on the back end of the KC market. The U.S. farmer seeds wheat quickly, but the dryness persists across the norther region.
 

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