Market Commentary > Mid-Week Grain Wire

Mid-Week Grain Wire

Aug 07, 2019

More of the same is the news of the day. The stock market and commodities have responded negatively to the latest bump in the road in the path to a solution for the China trade war.

Otherwise, trade is marking time until next week’s USDA Report. The table here shows the range of guesses and expectations. The range of guesses for the 2019/20 crop are just phenomenal as analysts, traders and producers struggle to verify how much is planted as well as final yields.

The report will be released at noon on Monday, August 12th and will include re-survey data from USDA on planted acres along with updated yield estimates. Regardless of the effort being made this report will still leave a lot of unanswered questions and Mother Nature will still have a lot to day about the final outcome for this harvest.

US Corn exports continue to fall behind. Argentina corn exports have a 62 cent advantage over FOB US corn values and Brazil is better by 45 cents. This demand re-routing could be troublesome to US balance tables quite some time.


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