Monday 12th USDA Report
Wednesday 14th Last Trading Day for July contracts
Thursday 15th Soybean Crush #’s
Conab lowered Brazil corn production to 93.4 vs. 96.4 in June
(seems still to high)
They had soybeans at 135.9
From Jason Britt Fun Fact
” 9 out of 10 Corn crops rated 64% g/e or less for the past week time frame yielded lowered by 2.6 bpa from trend”
Look at numbers on Weekly and Monthly Charts
26 week avg is 590.25 and the 52 week avg. is 490.50 (Sept)
Monthly numbers: 6 month is 595.25 and 12 month is 513.50
26 week is 1438.75 and the 52 week avg is 1252.25 (Sept)
Monthly numbers are 6 month is 1452 and 12 month is 1299.75
News is old about ND. and SD. drought and heat.
We have another wet pattern this week for the Eastern corn belt
Weather fact leans to the bear side BUT were down at 4 week lows in corn now.
We wait to see trade reaction to the Monday USDA report.
IMHO acres for both Corn and Beans could be larger than just reported in the June
Seems rallies are getting sold or hedged by some producers now.
Do we have an Aug. repeat like last Aug?? Need heat and dryness.
If a Bull buy puts for light hedges. Still many are profitable at these prices.
Call with any questions