MarketEdge PM Comments
Aug 11, 2023
(Sam Bair)
Good evening, grains finish mostly higher aside from old crop beans. September Corn futures are up 2^2 closing at 483^2, and new crop corn is up 2^0 closing at 496^2. August Bean futures were down 19^4 closing at 1412^0, and new crop beans are up 9’6 closing at 1318^2. Wheat finishes slightly higher after the day session.
Have a great night,
Good evening, grains finish mostly higher aside from old crop beans. September Corn futures are up 2^2 closing at 483^2, and new crop corn is up 2^0 closing at 496^2. August Bean futures were down 19^4 closing at 1412^0, and new crop beans are up 9’6 closing at 1318^2. Wheat finishes slightly higher after the day session.
- Reminder the August WASDE report will be released tomorrow at 11am CST
- Drier, and hotter for the 11-15 day forecast, across most of the belt.
- Avg trade estimate for Corn yield is at 175.5.
- AVG trade estimate for Soybean yield is at 51.3.
- Weekly export sales from last week were strong, with old crop corn and new crop beans finish within expectations, while new crop corn, and old crop beans were well above expectations.
- Brazilian crop estimating agency Conab raised its official Brazilian corn, and bean crop estimates to new records of 129.9 MMT of corn and 154.6MMT of beans, respectively.
- Livestock were mixed today, with Cattle finishing up, and hogs finish mostly in the red.
- Gold finishes lower, while the Dow Jones, Nasdaq, and S & P all finish higher on the day.
Have a great night,