Morning Market Insight

October 22nd, 2018
Zach Harry
Grain Marketing Specialist


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Corn- Up 1
On the overnight, corn is up 1 with light trading and also finding support around the 50 day moving average of $3.65 ½ for December 2018 futures. One year ago today, December 2017 futures closed at $3.44 ½. Harvest progress continues with weather mostly favorable in the nearby forecast, and the result of that is that progress is expected to be about 50% complete.
 
Soybeans- Up 1
Soybeans do some light trading on the overnight up 1 despite a heavy harvest weekend. With harvest in full swing for soybeans, and the China trade relations looking to be at a stall, is there an end in sight between the tariff war for the U.S. and China.  Brazilian soybeans are 35% planted vs. 18% on average.
 
Wheat- Unchanged
Spring wheat relatively quiet on the overnight trading above and below unchanged. The wheat market seems to be a little nervous in light of the U.S./Saudi relations. Aussie harvest and production reflects growing season issue of drought then a frost. Alberta reports spring wheat harvest to be around 60% complete.
               
 

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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