Stanford Grain Business Hours: Monday-Friday 7:30-4:00 CBOT Trading Hours: 7:00PM-7:45AM-Markets Open (Sun-Thurs) 7:45AM-8:30AM-Markets Closed 8:30AM-1:20PM-Markets Open 1:20PM-7:00PM-Markets Closed Daily Limits: Corn 25 cents, Beans 75 cents, & Wheat 35 cents
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Tuesday Morning Comments (8/21/18) Good Morning. Grain prices are mostly lower as wheat pulls its neighbors lower this morning. Wheat has been moving lower on technical profit taking and on talks that Russia will speed up the exporting of wheat ahead of potential export curbs. Soybeans faded yesterday as President Trump basically dismissed the prospects for any real progress on trade talks this week between the U.S. and China. Lower ranking officials from each country are expected to begin talks today through Thursday. The talks are expected to set the stage for more serious talks in November. The Pro Farmer crop tour found good crops in both South Dakota and Ohio. They put the South Dakota yield at 178 bpa, up from their yield of 148 last year. The USDA is at 170, which would be a record. The tour has Ohio at 179.6 bpa, also up from last year of 164.6. The USDA has Ohio at a record of 180 bpa. The tour found good bean pod counts for both states. I haven’t mentioned much in this space yet, but the trade is closely watching the African swine fever in China. The 3rd case of the highly infectious hog disease was found over the weekend. There has been some culling of hogs (roughly about 10,000 hogs so far) to help prevent the spread of the disease, with a major slaughterhouse being shut down as well. It is hard to know exactly, but it is estimated that China has about 700 Mln. head of swine (give or take a few million). So not much of an impact yet, but something to watch. Rain did move through parts of the cornbelt yesterday. Combine that with cooler temps and maturity should slow a touch. It does look warmer next week. Corn ratings were down 2% and bean ratings were down 1%. Ratings mean less and less as we approach harvest, as the ratings will be replaced with actual harvest yields. More tour news will be out today and we will see if we hear any news about the trade meetings. Have a great day.
Aug 10th USDA Report
USDA - August
USDA - July
USDA – 18/19 August
USDA – 18/19 July
Corn Ending Stocks
Bean Ending Stocks
Wheat Ending Stocks
Comments from Mid-Co Commodities
Average Price Program Results: Fall Corn=$3.71 Fall Beans=$9.85
7-day precip forecast (Aug 21-Aug 28) Have a good & safe day!
When one must, one can. Charlotte Whitton
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