Market Commentary > Mid-Week Grain Wire

Mid-Week Grain Wire

Aug 28, 2019

This weeks’ chart confirms that price action has been mostly sideways/lower as we challenge the growing season lows in both corn and soybeans. The ever present uncertainty of the status of trade negotiations with China continues to whipsaw market action in commodities and stocks.
The VIX confidence indicator was topping 20 again today as Wall Street becomes more nervous over whether Trumps’ claims of a conversation with China about their urgency/desire to reach a deal were truthful.
Producers are sitting on their hands with little desire to price bushels at the current market levels.
The September USDA report is quickly approaching and there will be a flurry of private yield guesses as we flip the calendar next week.
But even after those reports are digested, there will be a lot of unanswered questions until first frost and combines hit the fields across this great nation.
Like most of you, I’m sitting on the fence of dread and curiosity to see this harvest get started. The dread comes from knowing that field losses will have an impact on your farm and Ag businesses like ours for months to come. The curiosity comes from seeing just how well todays seed, genetics and chosen tillage practices performed under the conditions encountered this spring. And for many producers, it’s been a season of learning and gaining clarity into the workings of crop insurance and prevent planting policy.

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