Giving a voice to farmers and the means to continue to protect the land for generations.
Good Morning: The grain markets are finding some mild strength as we head towards another weekend. Some of today’s support comes from more rhetoric from Pres. Trump saying in regard to the trade war, “I think we’re having very good discussions with China. They very much want to make a deal. I think the longer it goes the stronger we get. I have a feeling it’s going to go very short.” Soybeans are supported by these comments along with crude oil, the dollar and US equities. China bought 17 cargo loads of Brazilian beans on Thursday, bringing the weekly total up to 20 cargos, according to SIMConsult, while other analysts have that total closer to 25-30 cargos this week. YTD Brazilian shipments have reached 39.575 mmt which still lags last year’s pace of 46.3 mmt during the same timeframe. The Fed Reserve Bank of Chicago released a survey showing the percentage of farm loans their customers are having a tough time repaying hit a 20-year high during the 2nd quarter of this year. Scattered rains are currently moving across NE, MO and WI. The outlook remains unchanged as needed rains are expected to move across the dry regions of E IA, IL and IN over the next few days. Good coverage in these areas should send futures lower next week while offering support if the rains are a miss; the models do disagree with coverage. Over the next 7 days, rainfall totals should be the heaviest in E KS into the northern half of MO and S IL where totals could reach 2 - 3”. NOAA’s 6 to 10 and 8 to 14-day models are looking like previous runs with above normal temperatures common while precip totals should be normal to above normal. The exception is the C and S Plains where rain chances will remain below normal. Enjoy the weekend and be safe out there! Wayne Kollis - Melissa Peters - Mike Rosenberg - Matt Zeman - Austin Behrendsen
Sat 8/17
Sun 8/18
Mon 8/19
Tue 8/20
Wed 8/21
High
79 F
75 F
78 F
84 F
74 F
Low
58 F
61 F
56 F
67 F
62 F
Precip
50%
40%
0%
30%
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