Morning Market Insight

October 1, 2018
Travis Antonsen
Producer Marketing Manager  
                                                       
 
Did you know October is National Cooperative month? There are 2,106 agriculture co-ops in the U.S., with more than 2 million member-owners. Agtegra is proud to be your full-service co-op with grain, agronomy, ag tech, feed and fuel.
 
CORN:  As of 7:45 – Up 2-3
We are higher this morning as we start the month of October.  The market is trying to digest and shrug off the Sept 1 stocks number that was laid out on Friday.  We did see an agreement was struck last night between Canada, Mexico, and the US (USMCA).    

 
SOYBEANS:  As of 7:45 – Steady to Up 1
October is showing above normal precip for most of the soybean growing areas……not conducive for harvest progress!  We did trade both sides of unchanged overnight as traders wrestle with the large Sept 1 stocks and harvest progress/delays.  Looking at $8.46 as overhead resistance for Nov soybeans in the near term.
 

WHEAT:  As of 7:45 – Steady
Quiet overnight in all wheat markets.  Watching HRW planting progress in this afternoon’s report……many acres in the north are waiting for current crops to be harvested before HRW planting can occur. 
 

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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