Morning Market Insight

October 23rd, 2018
Zach Harry
Grain Marketing Specialist


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Corn- Unchanged
On the overnight corn is only trading a fraction mixed up and down, and the overall demand remains strong for both domestic and export as we continue through the heart of harvest. In a few days the western part of the corn belt could see some light precipitation which could slow harvest activity. The USDA is reporting that harvest is at 49% complete which is a little bit behind most guesses.

 
Soybeans- Down 4 ½
Soybeans start the day down 4 ½. The U.S. harvest has seen major progress the past week (It’s amazing the amount of acres you can cover in a short time with todays equipment), but the export market still doesn’t have China, as the relationship still appears a bit stressed. USDA pegged U.S. harvest at about 53% complete which is well behind the 69% average. We are seeing some activity of Argentina sell and ship soybeans to China.

 
Wheat- up ½
Spring wheat is up a fraction on the overnight as no real new news in the wheat market. USDA reports that winter wheat seeding is about 72% complete which is a bit behind the 5 year average of 77%. Australia begins their harvest on probably the smallest crop in 10 years.
 

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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