Morning Market Insight

September 13, 2018
Jeremy VanderVorst
Grain Marketing Specialist


Corn Up 1
Market trading relatively quiet after yesterday’s bearish crop production report. The USDA raised corn yield to 181.3bpa and caught many people off guard as many expected a slightly lower yield. Weekly export sales were on the low end of range this week.
 
 
Soybeans unchanged
Yesterday we heard grumblings of the US and China possibly starting trade talks as the US made an invite to the China. China crush margins are at record levels due to positive hog margins.


Wheat down 1-2
World wheat ending stocks were up 2.3 mmt as many were looking for 3-4 mmt drop in world carryout. Spring wheat basis is under pressure as many are trying to move wheat to make space for row crops. There has been a strong interest in winter wheat acres in recent weeks due to low corn and soybean prices.
 
 

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