Morning Market Insight

November 5th, 2018
Jeremy VanderVorst
Grain Marketing Specialist

 
Corn 1-2 Higher
A cool and wet forecast this week looks to add a little support to the corn market. Harvest will continue to be delayed as many in the northern states receive rain and even some snow. Informa Economics lowered its forecast for the US corn yield Friday to 179.7bpa from 182.1 last month. Bloomberg reports China’s 2018 corn production to the be the lowest in the last 6 years.
 
Soybeans 4 Lower
Planting pace in Brazil is seen at a record pace with AG Rural reporting 60% planted versus 41% on average. Friday Informa also lowered the US soybean yield to 52.6bpa from 53bpa last month. Traders are looking for hints of progress of a trade deal with China or lack of progress to give them direction.
 
Wheat 1-2 Lower
The USDA is currently projecting wheat plantings to be near 51 million acres up from 47.8 million acres last year. Alberta farmers reported 95% of crops harvested with an average wheat yield of 46.9 bpa.
 
 

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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