Corn down 1, Beans up 8, Wheat down 9
Crude Oil- 92.20 down 2.82
US Dollar- 82.98 up .23
Dow- 17,045 down 52
|Bids are different for this week’s delivery in comparison to next week; if you are in the fields and planning on taking anything to town please call and talk with us about the bids for the next couple of weeks as they are different
Well it feels like a Monday! It’s a new month, I hope you all had a great weekend of relaxation before harvest hits and were all spinning our wheels.
Beans had a good day today, closing the session up 8 with funds seen purchasing 4K on the day. The demand for meal is there thus keeping the resistance in the market. The Chinese are still playing with the idea of some purchases farther out but haven’t done much to speak of at this point. Beans do a lot of maturing in August and as we moved out of August there isn’t really anything that happened weather wise that was a threat to beans. The pods filled nicely and really the rains were very timely. The only issue I have been hearing is the Sudden Death and I have heard once about stem rot. The Sudden Death set on late enough that yes it will take some of the yield off but generally it doesn’t sound like that will be catastrophic to yields.
Corn struggled today, closing the session down a penny apparently based on good weather to finish things up paired with improving yields coming from the fields. Funds were sellers of maybe a thousand on the day. The crop condition report will be out this evening I believe, the thoughts there are that corn will stay unchanged which leaves a very large portion of the crop rated darn near perfect, none of us can really deny that at this point can we?
Wheat, closed the session down 9 pennies on some chart selling. Funds were sellers of 4,000 lots on the day and called it good. I mentioned it earlier; the crop condition report is out this evening spring wheat harvest is coming right along it sounds like that will be ahead of the average.