MARKET COMMENTARY

Good morning!

A general lack of fresh news has quieted the markets overnight, as corn traded mixed and beans are slightly higher as we head into the morning session.  World markets have been stable over the past day, as the Chinese stock index was relatively unchanged overnight, allowing US equities to catch their breath as well.  Mixed inputs will factor into the grain markets today, as the US stock market is calling for a higher open, and crude oil is up slightly as well this morning. 

Over the past few weeks, and the weeks to come, we have seen a slew of crop production estimates from private firms regarding the upcoming harvest, and the vast majority have of estimates have been below the USDA’s productions numbers from the last S&D report on August 12.  The next S&D report will be released September 11^th. 

The lack of fresh inputs has traders searching for news stories to provide direction, and the buzz this morning is of a potential development of a frost threat in mid-September for the Northern Midwest.  Expect a quiet day today.

Opening Calls

Corn: steady/mixed

Beans: 3 higher

Have a great day!

@fccoopgrain