Morning Market Insight

October 3, 2018
Casey Schlechter
Grain Marketing Specialist
                                                   
 
Corn: Down ¾ (As of 7:42 AM)
Corn continued its Fall rally yesterday with the contract closing at the highest we’ve seen since early September. Continued weather concerns delaying harvest and lack of farmer selling leaves end users slightly worried about when product will cross their scales. President Trump is reportedly visiting Iowa next week and is rumored to announce the lifting of a regional summer ban on selling E15.
 

Soybeans: Up 3 (As of 7:42 AM)
The soybean market was buoyed with concerns over wet weather and lack of harvest progress. Looking at future weather models, this pressure may not be easing any time soon. With China being on a week long holiday, no fresh news to report on any trade progress. Some possible tension in Chicago as the hometown Cubs fell to the Colorado Rockies in a 13 inning game, win-or-go-home game, that ended after midnight as one of the longest games in postseason history.
 
 
Wheat: HRW down 2; HRS up 1 (As of 7:42 AM)
Wheat took a late session bounce yesterday after Russia’s Ag Safety “watchdog” said that it may suspend operations of 30 in land grain loading points in two of Russia’s top grain exporting stations due to phytosanitary issues. If there is a violation of quality rules in place, there could be a 90 day suspension. This solidifies rumors from the past 3 weeks of Russia putting a cap on wheat exports in some way, shape or form. In Australia, the driest September on record adds to one of the toughest summers seen in 60 years. Meanwhile, winter wheat plantings continue to slow due to weather.

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

    December 18th Insight
    December 18th Insight
    Dec 18, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 17th Insight
    December 17th Insight
    Dec 17, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 14th Insight
    December 14th Insight
    Dec 14, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 13th Insight
    December 13th Insight
    Dec 13, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 12th Insight
    December 12th Insight
    Dec 12, 2018 | Agtegra
    Click to hear from our Grain Marketing Specialist and get updated with the latest Morning Market Insight
    December 11th Insight
    December 11th Insight
    Dec 11, 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