COMMENTARY 8/25/17

 

Cool and dry for the SE half of the Corn Belt through early next week.  Scattered storms for the NW half of the Plains.  That tropical storm we mentioned recently now has a name.  Harvey is currently a weak, developing tropical storm and is expected to turn into a hurricane before it hits the E coast of TX in the next two days and through the weekend.  The longer the storm lingers over warm water, the more damaging rain/flooding impact it will have when it reaches land!  Rain totals of 5 – 10″ are possible with some areas receiving as much as 20″ if the storm continues at its current speed of 35 mph.  Though harvest in TX is wrapping up (70-75% complete), in LA and MIS, harvest fields are at high risk for large amounts of rain, flooding, and high winds.  KEEP YOUR EYES PEELED.

CORN

DOWN 3 1/4 plus down on the basis this friday

 

Corn was down today primarily based on the USDA crop tour with better than expected yields. also lack of support in the export market.

 

BEANS

DOWN 2 1/4 plus down on basis

Hurricane Harvey is not effecting much of or any of the southern bean crops.

WHEAT

UP 1