Old crop US weekly export sales were abysmal at just 3.6 Mil Bu – a new marketing year low – as South American exporters ramp up sales and shipments. This will remain a theme in FAS weekly sales reports into November. Funds were net buyers of 5,500 contracts. Central US weather into August 10th…
Drought Expands; Very Little Precip in 10-14 Day Forecast: This week’s drought monitor included modest improvement in parts of SD, but the overall area in drought expanded for the 9th consecutive week. The graphic displays current conditions, as well as changes from last year. Cooler temps lie in the offing, but the lack of precip…
Bottom Line: Final EU corn imports may be more than what the USDA currently projects. If that is the case, it could be because feed wheat has accounted for a smaller share of total grain feeding than was previously projected. Another possibility is that quantity of grain and meal fed to livestock in the EU…
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** The CBOT morning trade started out with strong buying as Iowa rains busted and the discussion of a fall in US crop conditions returned. All of a sudden, the ’17 US corn/soy crop sizes are tilted lower (again). However, the bulls and bears appears to be exhausted by the market’s back and forth price…
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