The grain markets are starting the week mixed to lower on mostly favorable weather and the prospects of growing stocks. November beans are trading at a 5-week low after making new lows for the move. Meanwhile, December corn futures are slightly higher after Friday’s test of contract lows at $3.20. NOAA’s 6 to 10 and 8 to 14-day outlook maps are suggesting normal to below normal temperatures for the heart of the Midwest. Above normal precipitation is expected for the southeastern 1/3rd of the Corn Belt while below normal precipitation is seen for the balance of the Belt. We anticipate this afternoons Crop Progress Report to show crop ratings holding steady from last weeks 72% good to excellent rating for both corn and soybeans. Wire story reports Chinese importers will crank up their purchases of soybeans from the US in the fourth quarter to meet healthy livestock demand, making the most of the start of the U.S. harvest season. Friday’s COT report showed that funds were net long 44,219 contracts of soybeans, down 17,942, 48,333 contracts of soyoil, up 10784 and 1,178 contracts of Chicago wheat, down 1,178 contracts. Funds are net short 172,820 contracts of corn, down 29540 lots and 20,985 of meal, up 1,521 contracts. China said it will sanction 11 Americans in retaliation for similar measures imposed by the U.S. on Friday, but the list doesn’t include any members of the Trump administration.
Have a great day! Wayne Kollis - Mike Rosenberg - Matt Zeman - Austin Behrendsen - Grant Johnson
Tue 8/11
Wed 8/12
Thu 8/13
Fri 8/14
Sat 8/15
High
84 F
85 F
87 F
88 F
Low
56 F
67 F
70 F
68 F
Precip
40%
79%
20%
0%
50%
Members of our Coop earn Patronage on the amount of business done, throughout that year. ...
Believe it or not, soybean decision time is upon us already! ...
Observations and reminders for this year's crop. ...
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