Traders Digesting Yesterdays Crop Progress Report
Grains Trade Lower in the Overnight Session
Traders will be digesting yesterday afternoon’s crop conditions report and anticipating the NOPA crush report which will be released out at 11 AM CST today.
Grains Trade Lower in Sunday Overnight Session
Weekend Rains or Southern Half of N Dakota and Parts of Western Minnesota
Weekend rains in the southern half of North Dakota, parts of western Minnesota and eastern Nebraska are pressuring the market along with a positive weather forecast that shows a couple more good chances for precipitation over the next two weeks.
Weekly Cash Comments
Weekly Cash Commentary for week ending 08/11/2017
Grain basis was mixed this week with corn showing little upward strength this week while soybeans posted a 2-cent advance.
Grains Pause Their Sharp Mover Lower in the Overnight Session
Today's Market will Continue to Digest the WASDE Report
In the overnight session the grains seemed to pause their sharp move lower that was triggered after the USDA’s 17/18 corn, soybeans and wheat production estimates topped analyst forecasts in the latest WASDE report.
USDA WASDE Report Out Today at 11 CST
Grains Were Up in the Overnight Session
Old crop export sales for both corn and soybeans missed expectations
Corn Yield Looks to Be Reduced in Tomorrow’s WASDE Report
Grains Trade Higher in the Overnight Session
In the latest poll by Reuters, the average trade guess is for corn yield to be reduced to 166.2 BPA from 170.7 in the July report.
National Soybean Crop Condition Revised Higher This Week
Market Continued Higher in the Overnight Session
Precipitation is expected in the Southern Plains and Lower Mississippi Valley in both the 1-5 and 6-10 day weather forecast.
Crop Progress Report due out Later Today
Grains Higher in Overnight Session
The 6-10 day weather outlook is favorable for crops with cooler than normal weather and precipitation expected throughout the majority of the central US.
Market Traded Lower in the Overnight Session
Midwest Trending Wetter over next 10 Days
Wheat missed trade expectations in this week's export sales report and was down 71 percent from the previous week.
Hard Selling Across the Board in Grains Yesterday
Overnight Session Trades Higher
Yesterday’s selling pressure drove December Corn to $3.76 ¾ by the close, leaving the June 23rd low of $3.74 unbroken and still likely to provide support.