January 29, 2018
Producer Marketing Manager
Unification of Wheat Growers and NCFE to Agtegra will take place on Thursday and Friday this week. While we will be able to purchase grain, all locations will be closed for receiving grain on the 1st and 2nd.
CORN: As of 7:45 – Up 2-3
The corn market is higher this morning…..mostly on strength from the soybean market. We are trading above the 100 day moving average this morning and will be interesting to see if this technical level will trigger more funds to cover their short positions. Export inspections will be out today at 10 am.
SOYBEANS: As of 7:45 – Up 11
Higher overnight as we gain back Friday’s losses in the soybean complex. The March contract is knocking at the $10 mark again. Argentina did get rain over the weekend, but the forecast is mostly dry there and Brazil can’t seem to turn the water spigot off as they try to harvest their earliest soybeans.
WHEAT: As of 7:45 – Mpls Up 5, KC Up 7
Dryness in the southern plains of the US has the KC market higher this morning as well. While the KC has cleared the 100 day moving average and is approaching the $5 mark on the Sept contract, the Mpls has stayed range bound in the 620-630 range on the Sept.