Morning Market Insight

11-30-18
Brad Olson
Grain Marketing Specialist

 
Corn:  As of 7:45-   1 higher
 
Good weekly exports sales yesterday kept the corn market firm as we broke the 1.0 mmt mark and exceeded expectations. The focus over the next couple of days will be the G-20 summit happening today and tomorrow. Nearby Agtegra bids did roll to the Mar yesterday. Technically I have support for CH9 at 3.67 with resistance at 3.76 and 3.81.
 
 

 
Soybeans:  As of 7:45-  6 higher 
Nervousness over the G-20 summit had soybeans receding yesterday a touch while overnight we look to have gained it back. What happens over the next couple of days will be critical to the direction of this market. Stay tuned… Talk of Japan purchasing Feb/Mar/April Brazilian beans yesterday. Technical would likely be irrelevant as we will be looking to trade negotiations for direction.   
 
 

 
Wheat:  As of 7:45-  1 to 2 higher 
Exports falling within the expected range, but lighter than we would like to see, keeping wheat near recent lows yesterday. On the G-20 front President Trump cancelling talk with Putin on Russian/ Ukraine tension. Interesting to see we haven’t really seen much risk premium work into this market yet from the Russia/Ukraine news headlines. Agtegra rolling nearby bids to the Mar as well yesterday.
 

 
 

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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