Mid-Day Markets: Corn -8. Soybeans +4. Wheat -11.
·         Markets mixed with corn down 8, soybean up 4, and wheat down 11.
·         Top negotiators from Washington and Beijing are set to speak this week to revive stalled trade talks.
·         Larry Kudlow said China was expected to move forward with agricultural purchases from the U.S. even as trade talks resumed between the two countries.
·         The US ag Attaché in China has forecasted imports to 84 MMTs of soybeans in 2018/19 and 83 MMTs in 2019/20.
·         The old crop import forecast is down 1 MMTs from WASDE, but the new crop estimate is down 4 MMTs.
·         U.S. export demand remains at a near standstill with U.S. values expensive compared to the rest of the world.
·         Corn was rated 57% good to excellent vs. 56% last week--Corn silking was 8% vs. 22% average.
·         Soybeans blooming were 10% vs. 32% average--rated 53% good to excellent vs. 54% a week ago.
·         Crop progress had 47% of the winter wheat harvested---64% of the crop was rated good to excellent vs. 63% a week ago.
·         Midwest weather forecast has below average precipitation and average to above average temps over the next 10 days.
Have a great afternoon!!!
Chelsey White
Emery Branch Manager/Originator || Topflight Grain Coop
593 Emery Rd.
Maroa, Il 61756
E-Mail: cwhite@topflightgrain.com
Web: www.topflightgrain.com
This material should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by Topflight Grain Cooperative, Inc. Topflight Grain is not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Contact Topflight Grains designated personnel for specific trading advice to meet your trading preferences. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by Topflight Grain Cooperative, Inc.


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