Tuesday, August 21, 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 7-31-2018
 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
 Protein Scales
 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     08/20 11:24

   Grains Mixed at Midday

   Soybeans are the midday leader in mixed action.

By David Fiala
DTN Contributing Analyst

 General Comments

   The U.S. stock market indices are mixed with the Dow futures up 85. The 
interest rate products are weaker. The dollar index is narrowly mixed. Energies 
are mostly higher with crude flat. Livestock trade is narrowly mixed. Precious 
metals are higher with gold up $1.70.

   CORN

   Corn trade is 3 to 4 cents lower at midday with the big crop tour going out 
this week, wetter nearby weather and spillover support from soybeans overnight 
fading during the day session. Ethanol margins remain tighter with corn at the 
upper end of the recent range and summer driving season winding down with 
ethanol futures sliding towards the 1.30 area, down another penny this morning. 
Corn basis will likely continue to fade with more harvest activity building 
with the advanced crop. Weekly crop progress is expected to show steady 
conditions with maturity still running well ahead of normal. The weekly export 
inspections were down a little bit at 1.096 million metric tons. On the 
December chart futures have support at the 50-day moving average at $3.74, 
which we have held after fading below the 20-day at $3.78 this morning. 

   SOYBEANS

   Soybean trade is flat to 3 cents higher at midday with trade fading from 15 
cent higher trade overnight with optimism about deals being made on the trade 
front even as rains fall across the belt. Meal is flat to $1 lower and oil is 
25 to 35 points higher. The crop tour will cover soybeans this week as well, 
but trade progress will probably be more supportive with the big yield numbers 
already out there. Basis continues to crumble ahead of harvest with early 
harvest just over the horizon and the export program under booked for fall. 
Weekly crop progress is expected to show steady to slightly lower conditions, 
and advanced maturity. The weekly export inspections held up decently well at 
639,001 metric tons. On the November chart support is at the $8.90 20-day and 
50-day which we closed just above on Friday. Resistance is the $9.22 two-month 
high.

   WHEAT

   Wheat trade is 13 to 18 cents lower at midday with fewer Black Sea concerns 
and weaker trade in Europe to open the week. Spring wheat harvest should 
continue to move along at a good clip with varied yields so far. The strong 
U.S. dollar is keeping the U.S. less competitive on the world market with the 
ongoing issues with Middle Eastern importers focusing on the Black Sea for 
origination even as their prices rise. Matif wheat is down slightly to start 
the week as well. Australia remains on the dry side with the crop pace ahead of 
normal as well with some relief for some areas. Weekly crop progress should 
show spring wheat past the halfway point. Export inspections continued at the 
recent pace at 345,375 metric tons. On the December Kansas City chart, we have 
support at the 100-day at 5.60, with resistance the recent high at $5.94.

   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.

DTN offers additional daily information available free through DTN Snapshot – sign up today.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN