AM Comments 8/6/2014
Wednesday, August 6, 2014, 8:08 AM
Submitted by: Joel Pudenz
Nice rain is falling throughout Western Iowa and will move east as the day progress, bringing moisture to regions that haven’t seen much for a few weeks. Corn and soybean futures traded mixed overnight with corn found some early spillover support from wheat; there are some renewed rumors of a Russian invasion into Ukraine. Next Tuesday, the USDA will release updated crop production numbers. Average trade guesses are 170.2 bpa corn yield (14.250 bln bushels produced) and 45.2 bpa soybean yield (3.815 bln bushels produced). The corn estimate is a lot higher from last month while soybeans are just a touch higher.
Have a good day!