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
Beans Fall Back Close Firm -

Front month beans closed fractionally mixed on Tuesday. The 2020 contracts held on to some gains, and in delivery August closed up by 1 1/2 cents.

Wheat Markets Close in Black -

Turnaround Tuesday left the front month wheat markets higher. SRW wheat futures were back up by 3 to 4 cents at the closing bell. The national

Ag Market Commentary -

Corn futures came back down from midday highs. The front months held on to gains and closed fractionally to a penny higher. July ’21 contracts

Corn Close Mostly Higher -

Corn futures came back down from midday highs. The front months held on to gains and closed fractionally to a penny higher. July ’21 contracts

Hogs Drop Back Triple Digits -

Turnaround Tuesday action pushed front month lean hog futures back by as much as $2. August futures closed a nickel lower to $53.07 ahead of

Tuesday Cotton Closes Higher -

Front month cotton futures were up by 69 to 75 points at the closing bell on Tuesday. NASS reported that 9% of this year’s crop was opening bolls

Full commentary...
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