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Grain Market Insight
Morning Grain Comments 8-22-2017 – The grains may be trying to make it a turn-around-Tuesday with soybeans trying to move higher as demand continues to be there, but this is tempered by the good crop coming on. The first day of the crop tour was called “not wildly bullish” as some may have been expecting. The Monday afternoon crop progress showed the national corn good/excellent rating steady at 62%. The Illinois crop saw a dramatic 8 point drop in their g/e rating to 54% g/e while the South Dakota rating jumped 8 to 42% g/e and the Kansas corn crop improved by 2 to 57% g/e. The soybean crop rating did improve 1 as traders thought it would to 60% g/e. The big movers in the soybean crop rating were Missouri, Indiana, and Illinois all down 3 while South Dakota was up 8 and Kansas was up 3. In world grain trade, Iran has tendered for 200,000 tonnes of corn and 200,000 tonnes of feed barley. At the end of the night session this morning at 7:45, Kansas City September wheat was 0.25 cent higher, Chicago September corn was down 0.5 cent, and September soybeans were 1.5 cents higher. Have a great day.
Afternoon Grain Comments 8-21-2017 – The grain markets were lower today as selling continued on good growing conditions and anticipated burdensome carry-outs anticipated for next year. The U.S. dollar was lower today which may have helped limit the losses in the grains. The corn market was said to have some technical support as the nearby contracts hit lows. The soybean losses were minimized by talk of the biofuel policy and export demand remaining strong as the crop conditions continue to weigh on the price. The wheat market continues to trade ample stocks of wheat with limited production concerns. Traders are anticipating slightly better crop ratings this afternoon for soybeans but we will see. At the end of the day, wheat was 7 cents lower, corn and milo were down 3 cents, and soybeans were 2 cents lower.
Sublette Cooperative will be closed for Labor Day, Monday, September 4, 2017. Our customer appreciation day is scheduled for Thursday, September 7th from 11:30 to 1:00. Come join us for lunch. We appreciate your business.
FCStone Trivia
What is the most popular day of the week for a US employee to take a sick day, at more than one-third of the total?
See below for the answer
Quote of the Day
"Be as great in act, as you have been in thought."
