MarketEdge PM Comments

Afternoon Comments 
(Taylor Bensenberg)
 
Good afternoon, 
 
September corn closed down 11 ¾ at 4.8725 and December corn closed down 12 at 4.9450. August soybeans closed down 20 ½ at 14.2775 and November beans closed down 21 ¾ at 13.1775. 

• Pressure on the grain markets today is due to a favorable forecast in the coming weeks 
• Crop ratings are expected to be better on Monday 
• Brazil is now the world's largest corn exporter this year after they saw another bumper crop 
• Export sales were released earlier today 
  • Old crop corn 251,700 MT
  • New crop corn 418,000 MT
  • Old crop beans 187,800 MT
  • New crop beans 592,800 MT
• The USDA announced corn sales to Mexico for both old and new crop this morning 

Have a great weekend!