Thursday, September 20, 2018, 7:15 a.m. – Yesterday was a nice positive day for our markets. Harvest corn closed up 2 1/2, harvest soybeans were up 16, spot winter wheat closed up 12 and spot spring wheat closed up 7 3/4. In the overnight trading corn is flat, soybeans and winter wheat are negative and spring wheat is just positive. Oil closed up $1.17 yesterday at $71.12 per barrel. It is stronger again this morning with it now trading at $71.55 per barrel. Our dollar started yesterday at $0.773 US, went down to $0.770 US in the morning and has been mostly us since that time. This morning it is currently valued at $0.775 US. Soybean prices rallied yesterday after reaching a new 9 year low on the CBOT on Tuesday. There is no big technical reason for the rally yesterday. It looks like funds may have taken profits from liquidating some of the short positions that they held. It was also a possible sign that this market is at or near the bottom for this harvest. Only time will tell. Spring wheat prices have rallied with increased commercial interest on the buying side. They are seeing value at current prices. Remember also that wheat prices have recently been supported by production issues around different parts of the globe. The latest this week was the frost in Australia that is expected to decrease their exports over the next year from previous estimates. Talk out of Russia continues as to whether they will continue to be able to meet current export demand. Once again only time will tell. Locally the soybean harvest is underway. Yield reports are coming in all over the board. We are receiving soybeans at the elevator and if anybody would like direct ship pricing just give us a call. Please call Geoffrey Guy at 613-880-2707or Bob Orr at 613-720-1271 if you would like any direct ship pricing. Prices quoted herein are for product at our elevator.
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