Fccoop

MARKET COMMENTARY

Morning Comments August 3, 2018

Friday, August 3, 2018, 8:08 AM
Submitted by: Landus Cooperative


Overnight Markets: 

Corn steady to 1 higher

Beans 9-10 Lower

Wheat 3-4 lower

 

 

Beans are still on the defense with tariff talks. The Chinese government said that they are willing to work with the U.S. to make trade “fair” to both parties, but announced additional tariff applications overnight.

 

Wheat was higher overnight, now trending lower. European weather is calling for hot and dry temperatures, which will support wheat. Corn is trying to decide which commodity to follow this morning.

 

At 10:30 this morning, Informa will release their U.S. and world production numbers. Then next Friday, USDA will release their August crop numbers. NAFTA talks with the U.S. and Mexico are going good “enough” for the time being. Officials will meet again this morning to try and make more headway.

 

Have a great day!

 

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