Morning Market Insight

November 19, 2018
Brad Olson
Grain Marketing Specialist

 
Corn:  As of 7:45-  1 lower
Corn continues to trade range bound as harvest nears the finish line. Harvest progress expected to be around the 90% complete mark, slightly below the 5 yr ave of 93%. Demand remains good for both ethanol and exports. Starting to hear some healthy acreage numbers for 2019. Dec 19 corn still trading, give or take, a few cents of $4…. It’s not too early to be looking at 2019. Technically this mark looks a bit weak with momentum indicators bearish as we work into this holiday week.

 
Soybeans:  As of 7:45-  7 lower
Trade talks or lack thereof remain front and center. At the end of the day 900+ ending stocks is substantial. Harvest pace expected to be at 93% below the 5 yr ave of 97%. Producers responded to the market dynamic holding more beans on the farm than ever before. Look out when these beans decide to move.... Technically momentum indicators have yet to flip over as we continue to trade in a range.

 
Wheat:  As of 7:45-  2 to 3 lower
The wheat complex continues to trade at or around recent lows as we look for viable markets for US wheat. Export inspections released at 10am cst. Winter wheat planting expected to basically to wrapped up. Technically momentum looks weak at the start of this holiday week.
 

The information contained above was taken from sources which Agtegra believe to be reliable, but is not guaranteed by Agtegra as to accuracy or completeness and is made available for information purposes only. There is a risk of loss when trading commodity futures and options.
 

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