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Ag Futures Market News

April 20, 2018 | Global Ag News Highlights

USDA Agency Reports

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Grains are lower. SN is down 6 cents and near 10.42. SMN is down 1.90 and near 375.90. CN is down 2 cents and near 3881. WN is down 8 cents and near 4.82. US Dollar is higher. Crude is lower. 

For the week, Winter Wheat prices are down roughly 8 cents for SRW, down 10 in the HRW, and down 14 for HRS; Corn is down 6; Soybeans down 23 cents; Soymeal down $10.00, and; Soyoil down 10 points (July crushing margins are down roughly 2 cents around $1.33). 

US soybean and soymeal are lower on concern over China demand for soymeal and US soybean imports. Corn and wheat are lower on prospects of better US weather. Markets may be shifting focus from the lower Argentina soybean and corn crop and the lower Brazil corn crop to concern about US/China trade issues and the potential for normal 2018 North  Hemisphere crops. Markets may now trade back and forth depending upon US weather and crops outlook.  

The U.S. Midwest weather forecast had no major changes; things look dry the rest of week, weekend, and Monday; light rains are then seen for midweek and again the following weekend. Temps still seen running below average. 

The U.S. Southern Plains weather forecast had no major changes; widespread and soaking rains are seen for all of the region today and tomorrow; it quiets down early next week before some light to moderate rains enter the region the middle to the end of next week. Temps are seen running average to below average. 

Funds sold 5,000 soybeans, 3,000 soymeal and 4,000 corn and bought 2,000 wheat on Thursday. Funds are estimated to be long 166,000 soybeans, long 101,000 soymeal, net short 40,000 soyoil, long 155,000 corn and short 69,000 wheat.

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