Morning Market Wire

Wednesday Sept 28, 2022                                               By: Eric Peterson

Corn opened slightly lower on the overnight and has traded in a narrow range during the night.  Corn is the strongest it has been in over 10 years for this time of year.  Russia is trying to permanently occupy some major regions of Ukraine, if successful, Russia corn production will go up.  Look for mixed trade today as harvest is ramping up and outside markets turn lower.      

Soybeans were lower this morning as harvest is picking up across the Plains.  November soybeans are getting closer to the $14.00 mark the September 8th low is $13.73.  Planting in Brazil is off to go good start and is helped by timely rains.  Look for mostly lower trade today on harvest pressure.       

Spring wheat closed nine cents higher this morning, just off the overnight high of $9.56.  All three wheat class were higher overnight with the KC market leading the way, not far from its highest price in three months.  Wheat remains volatile as global tensions remain high and uncertainty about the global wheat supply. 

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