Morning Market Insight

October 24th, 2018
Zach Harry
Grain Marketing Specialist


Corn- Down 1 ½
Trading a little bit lower overnight down. Cash markets are mixed, and dependent on harvest activity, but overall farmer movement reflects the lack of forward contracts. December 2019 NC corn is still staying above the $4.00 mark, which isn’t a bad level to look at with crop rotation concern looming into next year.

 
Soybeans- Down 2-3
Soybeans seem to be a few ticks lower as the market is turning technically lower.  There are reports that Brazil is seeding beans at a high rate which in turn could mean that they are planting more bean acres. China continues to deal with the African, and now the bird flu, which can’t be good for protein demand. There are some reports in the southern states that they are beginning to see some soy damage discounts come in.
 
Wheat- Down ½
Spring wheat is a fraction lower on the overnight as it tests the low end of the 4 month trading range for KC and Chicago. There still seems to be some chatter of Russia either slowing down or stopping exports. The Aussie production is lower, but the market has known that for a little while now.
 

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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