COMMENTARY 8/19/16

A strong cool front will push temps below normal for the weekend before they moderate late next week with highs 80 and lows in the 60s.  A few storms may pop up in the N Central Belt today with most rain occurring Sat in the Central Plains and Corn Belt.

St Louis river level DROPPING ~ at 14.2′ and forecast 12.7by 8/24.  

CORN

OLD ~ UP  2   NEW ~ 2

Short covering.  Many in the Trade think that the NASS used too heavy of ear weights in their calculations and are raising an eyebrow over the 175.1 bu avg yield.

 

BEANS     

DOWN 10

Ideal growing conditions.  OK, KS, and MO are not any closer to harvest for the next 7 days, BUT at the same time they will be filling HUGE bean pods.  More 1-2” rain accum is expected for the Delta.  Some 80% of the AR crop received  200% of normal accum in the past 30 days.  AR usually accounts for approx. 4+% of our production.  We continue to see physical evidence of just HOW devastating the SA floods and drought were on the country’s crops.  Another 261KMT were sold today to Unknown for 16/17.

 

WHEAT          

UNCHANGED

Still looking for direction.  France’s AgriMer says wheat harvest is 97% complete and  spring barley 97% complete.