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
Ag Market Commentary -

Nearby corn futures finished the day with fractional gains, touching a penny for May contracts. The EIA posted up to date ethanol production numbers

Corn Futures Find Support on Thursday -

Nearby corn futures finished the day with fractional gains, touching a penny for May contracts. The EIA posted up to date ethanol production numbers

Lean Hogs Futures are Lower so far -

Lean hog futures finished the day with losses of $0.37 to $1.45 in the front months. The 11/12 CME Lean Hog Index was up 61 cents to $59.55. The

Wheat Off a Little More on Thursday -

Nearby wheat futures remained lower through Thursday, with Chicago SRW noticing the biggest losses of 1 1/4 to 3 cents. Kansas City HRW wheat

Soybeans Reestablished after Midday Lows -

Nov bean futures expired at $9.0025 per bushel. Nearby contracts, that are still in play, made gains of 1 to 1/2 cents. Soybean meal finished

Thursday Cotton Mostly Lower -

Cotton futures were mixed after Thursday’s round of trading. Dec futures rallied to finish up 4 points after midday lows. The other nearby futures

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