Morning Market Insight
Grain Marketing Specialist
Markets Closed Overnight Trade reopens @ 8:30.
We are now buying NC 2019 bushels without the contract fee. For those wanting to price 2020 harvest bushels there will be a $0.05/bu for all commodities.
March Corn Closed Friday @3.52 futures up one on the day. While Dec 18 corn closed @ 3.84. Export Inspections to be released at 10 am Corn needs 42.2 mbu. Cattle on feed 114% of last year.
March beans closed Friday @ 9.60 while Nov 18 beans closed at 9.73 futures. Chinese imports of US beans during the month of November Down 17% vs last year. Chinese soy meal imports up 328.9% for November
Minneapolis March wheat closed Friday @ 6.11 futures while July closed @ 6.25 futures. Kansas City March futures closed @ 4.22 futures while July closed @ 4.52 futures. Russia angry over US suppling Ukraine with anti-tank missile defense systems. Chinese wheat imports for month of November up 470% vs last year with the majority coming in from Canada.