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 -

Front month corn futures dropped in the afternoon part of the session, and closed with 2 to 3 cent losses. July futures expired at $3.34 3/4 cents.

Corn Fades to Close -

Front month corn futures dropped in the afternoon part of the session, and closed with 2 to 3 cent losses. July futures expired at $3.34 3/4 cents.

Cotton Falls on Tuesday -

Cotton prices fell back 65 to 106 points on Tuesday. The thinly traded October contracts were down the most. The 7-day accumulated precip forecast

Tuesday Losses for Lean Hogs -

Tuesday trading in front month lean hog futures left prices lower by $0.42 to $1.35. With one day of trading left, July contracts closed at $46.80.

Wheat Traded Both Directions -

On Tuesday, SRW wheat recovered some of Monday’s losses and the hard wheats fell by some more. SRW closed the session with gains of 1 1/2 to 2

Beans Higher at Close -

Soybeans recovered 2 to 4 cents on Turnaround Tuesday. July beans expired at $8.82 1/4. The national average soybean price from cmdtyView was

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