Morning Market Insight

September 10 2018
Jeremy VanderVorst
Grain Marketing Specialist
 
Corn 1 lower

Corn trading relatively quiet overnight within a two cent range. Trade awaits the USDA crop to be released on Sept 12. Traders expect the USDA to lower the US and World corn carryout. US weather forecast shows a warming trend which is much need after 4 to 6 inches of rain in Missouri, Indiana, and central Illinois. Harvest looks to advance as farmers have seen rapid dry down this year.
 
 
Soybeans 2 to 3 higher
Soybean trade is looking for the USDA to raise US and World carryout numbers on Sept 12 Crop report. Chinese Soybean futures rallied nearly 5% Monday morning as traders are concerned that recent cold weather in the Northeast may have damaged crops. President Trump said he is prepared to impose an additional $200 billion tariffs on Chinese imports as soon as public comment period ends.
 
Wheat 1 to 3 higher
Traders are looking for USDA to lower World wheat supply on Sept 12. Southern Plains weather looks to be above normal with little precipitation in the forecast over the next few weeks.

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