Morning Comments August 10, 2018
Friday, August 10, 2018, 8:08 AM
Submitted by: Landus Cooperative
Corn steady to 1 lower
Beans 1 to 2 lower
The August WASDE report is due out this morning at 11:00 A.M.
The average yield estimate has the U.S. corn yield @ 176.2 bpa, producing a 14.411 bb crop with new crop ending stocks dropping to 1.636 bb. For soybeans, the trade is looking for a national yield of 49.6 bpa, producing a 4.407 bb crop with new crop ending stocks rising to 638 mb. Wheat ending stocks are estimated at 961 mb.
The weather forecast for the Midwest has no major changes with rains expected for much of the region next week while temps run average to above average. The 11 to 16 day forecast has models showing close to average rains in the Midwest with temperatures average to a bit above.
The Dollar index is trading much higher this morning while Crude Oil is trading steady.
Price Later contracts will need to be priced or rolled over prior to August 17th at 1:00 P.M.
Have a good weekend!