Morning Market Insight

November 26, 2018
Travis Antonsen
Producer Marketing Manager
 
CORN:  As of 7:45 – Steady

Steady overnight as corn is stuck between the higher wheat futures and lower soybean market.  The market continues to drift lower as world supplies feel adequate and ethanol economics are in tough territory as some plants have idled production.  We did sell some Corn to S Korea again.
 
SOYBEANS:  As of 7:45 – Down 7
Brazil is reported to have 90% of its new crop soybeans planted.  Below is an interesting graphic on China’s soybean imports by month and by country.  The market is currently trading around the 20, 50, and 100 day moving average and needs to maintain above $8.72 on the Jan futures to hold this support level.


WHEAT:  As of 7:45 – Mpls Up 4, KC Up 3
Wheat is getting a bump from the geopolitical issue in Ukraine/Russia with Russia blocking the Kerch Straits, the access point to the Sea of Azoz in the Black Sea. Some analysts note the ports within the Sea of Azov are only 5-10% of their grain loadings, and traffic has reopened as of this morning.  Something to keep an eye on….
 

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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