Wednesday, September 18, 2019
 
Mid-Day Markets: Corn +3. Soybeans -5. Wheat +7.
 
 
MARKET SUMMARY:

Markets mixed with corn up 3, soybeans down 5, and wheat up 7.
Warmer weather has helped push late planted crops to full maturity with no threat of frost/freeze into the first week of October.
Brazil will slowly start to see timely rain showers move into the forecast through next weekend in Northern Brazil.
China officials set to arrive in Washington today and meetings will begin Thursday or Friday; China looks to be done buying U.S. soy for now.
The Trump administration might consider removing new tariffs if an agreement can be made on intellectual property.
Ethanol production averaged 1.003 million barrels per day which is down 1.96% vs. last week and down 4.57% vs. last year. Stocks were 23.238 million barrels which is up 3.28% vs. last week and up 2.16% vs. last year; we estimate 102.4 MB of corn usage.
A day after reports its first ever case of ASF, S. Korea has confirmed a second case near the N. Korean border.
Thai chicken sales to China have skyrocketed as Jan-Jul poultry exports have been reported @ 33,500 T vs. 4,100 T last year.
China has released stockpiled pork to help bring prices down ahead of Oct 1st celebrations of the Communist Party’s 70th anniversary.
Midwest weather little changed with average precipitation over the next 10 days; temps to be running above average.
 
 
Have a great afternoon!!!
 
Chelsey White
Emery Branch Manager/Originator || Topflight Grain Coop
593 Emery Rd.
Maroa, Il 61756
217-794-2240
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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