Market Commentary

August 6, 2013

Good Morning,
 
Yesterday afternoon the USDA raised the corn condition in the G/E category by 1% bringing it to 64%. They raised the ratings in IL, OH, NE, MO and KS while lowering it in IA and MN. Wisconsin came in at 60% G/E which is down 1%.
On Monday 8/12/13 the USDA will release its August S&D report which many that are looking for a bounce in the markets are hoping they will adjust planted acres lower. While this could happen, there is a good chance they will raise yield which most likely will negate any bullish support the acreage number would have supplied. Private estimates released over the last few days are expecting yields in the 158-161 bpa.  Read More

Commentary
Soy Complex Mixed Mostly Higher -

Domestic soybean futures are trading 11 1/4 to 14 3/4 cents in the black at midday. March, with no deliveries reported through Thursday, is near

Wheat is Firm at Midday -

Wheat futures are fractionally to 2 cents higher so far. CBT prices are fractionally to 1 3/4 cents in the black. HRW prices are up 2 to 2 3/4

Hogs Gaining ahead of Weekend -

Front month lean hog futures are trading 10 to 40 cents higher. April and October are in the red at midday, but losses are minimal. The CME Lean Hog

Corn on the Rally at Midday -

Front month corn futures are 7 1/4 to 9 1/4 cents in the black so far. Yesterday prices were also in the black at midday before selling off to the

Cattle Mixed at Midday -

Fat cattle futures are trading with midday gains limited to 55 cents so far. The deferred contracts are a nickel weaker at midday. The bulk of the

Cotton Firmly Mixed at Midday -

Cotton futures trading has the board 5 to 8 points higher. New crop December contracts are 5 points weaker near 83.95.   Census data showed

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