Morning Market Insight

September 14, 2018
Bailey Miles
Hedge Desk Operator

 
Markets ended the day lower yesterday
 
Corn: As of 7:45 – Up 1
Corn traded 1 to 2 higher overnight after prices scored new contract lows in yesterday’s trade as the USDA reports continue to weigh on the market. Hurricane Florence is slowly making its way to the Carolinas. It looks like the rain from Florence will stay East, so we should see an active harvest weekend throughout the corn belt.
 
Soybeans: As of 7:45 – Up 1
Slightly higher this morning after closing lower yesterday as there is still no progress with the US/China trade war. More African swine fever has been found in Europe and Belgium affecting soymeal. Yesterday the USDA announced new bean sales to Mexico and unknown for both 18-19 and 19-20 marketing years.
 
Wheat: As of 7:45 – Mpls up 7. KC up 8.
The wheat markets turned higher overnight as we saw plenty of export business this week. Wheat closed sharply lower yesterday as the trade continues to debate if the world production numbers are too high.
 

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