This country/microstate—the smallest to border two other countries— became a member of the U.N. on this day in 1990...
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Grain Market Insight
Afternoon Grain Comments 9-18-2020. The grains were higher today as soybeans got things going and wheat seemed to find some strength too but it was more than likely money flow, not fundamentals for the wheat market. The soybean market was said to be following a trend of higher at night before backing off, then moving higher during the day. There are some interesting thoughts about what China is doing through their soybean purchases from the U.S. Will they continue to purchase U.S. supplies forcing the other buyers to Brazil or will the slow purchases soon and switch to Brazil? This will be something to watch. This afternoon the StoneX corn comment was “corn literally dragged kicking and screaming by soybeans into positive territory today.” It makes you wonder where values would be if we didn’t have the purchases of both soybeans and corn. At the close today cash wheat was up 16 cents, corn and milo were up 4 cents, and cash soybeans ended the day 15 cents higher. For the week, wheat was up 33 cents, corn and milo were up a dime, and soybeans were 48 cents higher. Have a wonderful weekend.
Morning Grain Comments 9-18-2020 – The grains were all lower for a short time at the beginning of the night session but soon turned higher, again with soybeans in the lead in a night session that had double the “normal” volume. The soybean rally has put the U.S. soybeans values very close to Brazilian values where the U.S. has been cheaper delivered to China in recent months. One question there is, how much supply do they have? One comment yesterday afternoon that so far is applying today is that it is very difficult for wheat to be down when soybeans are double digits higher. The recent night sessions have been no indication as to where the markets would go during the day so we will see what happens today. In world grain trade news, Jordan issued another tender for 4.4 million bushels of milling wheat after not making a purchase in their last tender. At the end of the night session at 7:45 this morning, Kansas City December wheat was a nickel higher, Chicago December corn was up 1.5 cents, and Chicago November soybeans were 9.5 cents higher. Have a wonderful day and weekend.
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