Morning Market Insight

October 31st, 2018
Travis Antonsen
Producer Marketing Manager

 
Happy Halloween.....can we spook some life into the grain markets today???
 
CORN: As of 7:45 – Down 1
A quiet Wednesday as we await Dept of Energy Ethanol production stats today.  Export news is mum as cheap rail freight values are reflecting that reality.  Harvest is rolling on as it looks like the northern Plains will have a couple days of good weather before a system brings in some snow/rain Friday through Monday.  Dec corn is right at the 50 day moving average support level this morning at $3.63.  Technical signals are not in oversold territory yet, but getting close.

 
SOYBEANS:  As of 7:45 – Steady
Look for soybean bids to roll to the Jan futures contract today as we hit first notice day on the Nov futures contract.  We talked about the torrid pace of planting in Brazil earlier in the week.  Looking specifically into their #1 producing state, Mato Grosso, they are 77% complete vs 40% on average…..early planting would assume earlier supplies hitting the market and shortening the US export window opportunity.
 
WHEAT: As of 7:45 – Mpls down 1, KC Down 4
The strengthening US dollar has put a little pressure on wheat values.  The futures market is making a run at last week’s lows and while we do that Russian offers fall to remain competitive as the world’s supplier of wheat.
 
 

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.
 

Past Morning Market Insights

    November 19th Insight
    November 19th Insight
    Nov 19, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    November 15th Insight
    November 15th Insight
    Nov 16, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    November 15th Insight
    November 15th Insight
    Nov 15, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    November 13th Insight
    November 13th Insight
    Nov 13, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    November 12th Insight
    November 12th Insight
    Nov 12, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    November 9th Insight
    November 9th Insight
    Nov 09, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight

Subscribe to Receive Morning Market Insight Email