Morning Market Insight

November 6, 2018
Jeremy Vander Vorst
Grain Marketing Specialist



 
Corn 1 Lower
Crop progress report shows corn harvest 76% complete versus 77% on average. Yesterday’s weekly export corn inspections were 49 million bushels versus expectations of 28-39 million bushels. Currently corn inspections for the marketing year are 78% ahead of year ago with a 2% increase projected.
 
Soybeans 1-2 Lower
Friday the United States and China will hold a top level diplomatic and security dialogue in Washington as they try to resolve the current trade war. Weekly inspections showed soybean exports 42% behind last year with a 3% decline projected. Soybean harvest continues to lag and with below normal temps we will struggle to make progress over the next 10 days. Currently soybean harvest progress is 83% complete versus 89% average.
 
 
Wheat Unchanged
Winter wheat plantings show 84% planted versus 90% on average with crop conditions off several points from last year. Weekly export inspections had US wheat exports running 22% behind last year with the USDA forecasting a 14% increase over last year. US Southern Plains look to be dry over the next few days with snow forecasted for northern Kansas later this 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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