August 9th, 2013
Corn as of 8:00 am Sep. unchagned Dec. unchanged
Lack of a weather threat keeps pressure on the corn market as futures head for first harvest lows before the August 12th report. If weather pattern persists, there will be growing frost concerns. News that EPA will lower renewable fuels mandate next year. China has some dry areas. We wait for Monday.
Soybeans as of 8:00 am Nov. 9 higher
Double digit gains yesterday! We see this rolling over into buying this morning. Strong new crop export demand is keeping this boat afloat. Some weather patterns next week look to be drier in the Midwest. Long term however remains cool and wet. Uncertainty on new crop acres and yield remains. We wait to see what happens Monday.
Wheat as of 8:00 am Spr. Wheat 2 higher Win. Wheat 2 higher
Wheat is trading a little higher this morning. Export sales were strong for the week. Concerns about what is to come. China is buying US soft red winter wheat, but this is slowing. US priced out of North African and Middle East markets. Production around the world seems to be good.