Tuesday, July 17, 2018   
 Home
 Cash Bids
 NCGC News
 Contact Us
 Credit Application
 Employment Opportunities
 Merchandiser's Comments
 Agronomy News updated 4/11/18
 Seed Department News updated 7-16-2018
 Energy News
 SDS Info
 Locations
Bisbee Office 701-656-3263
Bisbee Terminal 701-656-3266
Bisbee Agronomy Center 701-656-3226
Cardtrol
Bisbee Service Station 701-656-3211
Dunseith Cenex C-Store 701-244-9765
Overly Elevator 701-366-4562
Perth 701-656-3221
Rock Lake Elevator 701-266-5492
Rock Lake Station 701-266-5511
Rolette Elevator 701-246-3251
Rolette Station 701-246-3493
Rolette Agronomy 701-246-3305
Rolla Station 701-477-3127
Rolla Elevator 701-477-5612
Rolla Agronomy 701-477-6430
North Central Tire-Rolla 701-477-6363
 Delayed Price Schedule
 Discount Rates
 Daily LDP Rates
 Calendar
 Newsletters
 Construction (photo gallery)
 QUOTES & DATA
Weather
Futures Markets
Quotes
Markets Page
Ag News
AgBizDir.com
DTN Renewable Fuels
Charts
 
 
Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Midday Grain Comments     07/16 11:38

   Soybeans Leading Grains at Midday

   Soybeans are posting double-digit gains at midday, corn is flat, and wheat 
is weaker. 

By David Fiala
DTN Contributing Analyst

 General Comments

   The U.S. stock market indices are mixed with the Dow up 5. The interest rate 
products are firmer. The dollar index is 20 points lower. Energies are weaker 
with crude down 2.65. Livestock trade is mixed with cattle leading. Precious 
metals are weaker with gold down $2.20.

   CORN

   Corn trade is flat at midday with two-sided trade so far with generally 
positive trade during the day session. Cooler weather looks to hang around the 
next couple weeks. Ethanol board margins remain positive with some pressure 
from crude with ethanol futures edging higher to narrow blender margins. Corn 
basis has been flat to firmer in recent days with the lower board. The weekly 
export inspections were on the lower end of the range at 1.217 million metric 
tons. The weekly crop progress report is expected to show slightly lower 
conditions and maturity well ahead of normal. On the September chart we remain 
below the 10-day at $3.48, with the 20-day at $3.55 the next round up. Support 
is the fresh low of $3.37 scored yesterday with the lower Bollinger Band at 
$3.38 above that. 

   SOYBEANS

   Soybean trade is finding good short covering this morning with soybeans 12 
to 16 cents higher at midday after fresh lows overnight. Meal is $6 to $7 
higher and oil 25 to 35 points lower. Brazil remains at a stout premium to US 
origin, which is compounded by the ongoing logistics issues with Brazil with 
premiums around $1.90 right now. Bean basis has remained steady with processors 
taking the lead. The daily export wire has remained quiet. Weather shouldn't be 
a major driver near term for soybeans but podfill will be here soon. Weekly 
export inspections were good seasonally at 635,429 metric tons. Weekly crop 
progress is expected to show slightly lower conditions with maturity well above 
normal. On the August chart, the 10-day at $8.43 is again the first level of 
resistance which we are still below at midday with further support the lower 
Bollinger Band at 8.11 with the next level resistance the 20-day at 8.63.

   WHEAT

   Wheat trade is 4 to 8 cents lower at midday with trade struggling again to 
open the week. Harvest progress should continue to push along with the 
homestretch ongoing for the plains. Spring wheat should see good progress with 
Canada with drier weather showing up again. Russian harvest continues to move 
along as well with production estimates dropping another 3 million metric tons. 
HRW basis has remains solid through harvest with the better protein with 
offered premiums declining. The weekly export inspections improved at 469,523 
metric tons. Weekly crop progress is expected to show winter wheat harvest past 
70%, with spring conditions steady with conditions above normal. On the 
September chart, Kansas City was able to finish last week just below the 10-day 
moving average at $4.90 with the 20-day the next resistance at $4.93.

   David Fiala is a DTN contributing analyst and the President of FuturesOne 
and a registered adviser. 
He can be reached at dfiala@futuresone.com 
Follow him on Twitter @davidfiala


(BAS)

Copyright 2018 DTN/The Progressive Farmer. All rights reserved.

For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN