WELCOME TO CFE

Good Morning!

Grains are under pressure this morning as welcomed rains are falling across some of the driest areas of Iowa. Western and central Iowa has received .5-2.0” of moisture with some localized areas receiving as much as 5-6”. Outside markets are mostly quiet with gold and crude oil trading slightly higher while Dow futures are down a few points. Ag futures are the Dalian Exchanged were mixed with soybeans down 21 yuan, down 3 in corn, down 3 in soymeal, up 78 yuan in soyoil, and up 58 in palm oil.

Weather models are indicating temps for the remainder of August will likely be cool and absent any extreme heat. The cool temps are also to extend into the first few days of September.

The much anticipated Pro Farmer Crop Tour begins today and will and run through the 24th with final results to be released on Friday, August 25th. Several analyst believe the tour will produce evidence NASS’s 169.5 bushels per acre yield is too high and pod counts could be 10 to 15% below last year.