Morning Market Insight

November 29, 2018
Travis Antonsen
Producer Marketing Manager
 

Reminder…..any unpriced BF or HTA contracts vs the Dec futures need to be priced or rolled by noon TODAY!
 
CORN:  As of 7:45 – 1 lower
Corn was up a nickel yesterday in tandem with the strength coming from the bean complex.  Ethanol prices fell to the lowest level ($1.15 in Chicago) in 13 years yesterday as stocks increased and output was slightly higher on the week.  Traders were (and still are) anticipating a slowdown in production due to negative margins.  Export sales this morning were solid at 49.9 million bushels with S Korea, Columbia, and Japan taking the top three spots.

 
SOYBEANS:  As of 7:45 – Down 6
Jan bean futures closed 15c higher yesterday on optimism that there will be some kind of good news coming out of the Trump/Xi meeting in the Argentina G20 meetings this weekend.  In an unfortunate and surprising manner, Argentina has become the largest US export customer for soybeans……  Export sales out this morning had beans at 23.1 million bushels, within the range of expectations (15-33).  The Dutch and Argentina were the biggest shoppers of US soy on the week.  Below is cumulative export pace for beans.

 
WHEAT:  As of 7:45 – Steady
KC and Chi wheat both closed higher yesterday while Mpls traded in the red.  Feels like global acres are expanding, especially in the EU, India, and Ukraine….will the US follow suit with more HRS acres?  Wheat export sales were a little better than last week, but below the pace needed to hit USDA’s final number.  Will we get more business this winter due to the smaller Russian crop?
 
 

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.
 

Past Morning Market Insights

    December 7th Insight
    December 7th Insight
    Dec 07, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 6th Insight
    December 6th Insight
    Dec 06, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 5th Insight
    December 5th Insight
    Dec 05, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 4th Insight
    December 4th Insight
    Dec 04, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 3rd Insight
    December 3rd Insight
    Dec 03, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    November 30th Insight
    November 30th Insight
    Nov 30, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight

Subscribe to Receive Morning Market Insight Email