Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
              
Saturday, August 8, 2020
 
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Stanford Grain Company

Serving our customers since 1895!
Celebrating our 125th Anniversary


Coronavirus Update
The Stanford Grain Co office is open for business.  However, our priority continues to keep our employees and customers healthy and safe.  With that in mind, we prefer that you continue to conduct business by phone (preferred) or e-mail whenever possible.  If you feel that it is necessary to do business in person, please limit the amount of time in the office to taking care of your business only.

 Thank you for your cooperation. 

Brad      


Friday Morning Comments-Aug 7th

The weaker trend continues with soybeans making new lows for the move. There are rumors that China may have bought several cargos of US Gulf beans. Traders will be looking for fresh sale announcements this morning. Other fresh fundamental news remains scarce.
• Stocks are trading lower and the dollar is higher as no progress has been reported on a new stimulus program for the US economy. President Trump signed an executive order, banning transactions with WeChat and TikTok. President Trump also initiated a plan that could force Chinese companies, with shares traded on US stock exchanges, to give up their listings unless they comply with US audit requirements.
• The average trade estimate for next Wednesdays release of the August WASDE report pegs the new crop US corn carryout at 2.8 bln bu which is up from the 2.648 bln bu carry out projected in the July report. The average soybean ending stocks estimate (2020/21) is pegged at 525 mln bu, up from 425 mln bu in the July report.
• According to data released by the US Census Bureau, the US has shipped a total of $7.3 bln in agricultural goods to China during the first 6 months of this year. This is up 6% from last years 11-year low, but it is down 25% from the 2017 benchmark. Phase 1 outlines Chinas will to purchase $36.5 bln in 2020, a 50% increase from 2017.
• Last nights GFS model turned noticeably drier for Iowa next week, removing much of the rain that was indicated on yesterdays midday model run. The 11 to 16-day outlook maps indicate average to below average rainfall while temperatures should be running near normal.

Opening Calls
More friction between the US and China weighing on soybeans and stock futures.
Trade estimates are out for next Wednesday WASDE report.
Traders will be watching for export sale announcements following soybean rumors.

  7-day expected precip:


6-10 DAY FORECAST (TEMP/PRECIP)