BASIC & RECENT MARKET INFO

Highlights The USDA announced yesterday morning that 517,000 mt of new crop soybeans were sold to China. Soybeans in China’s futures have rallied 80 cents per bushel the last 2 days. September grain options expire tomorrow. Usually a down day for prices, but the Pro Farmer Tour results may change that. The Tour results will be released tomorrow morning. Reuter’s Karen Braun commented yesterday: Averaging 198 bu/acre through 8 stops in W Iowa- Pottawattamie, Harrison, Crawf

Summary report as of Sunday Evening, August 21, 2022 The market was expecting unchanged condition ratings for both corn and beans. Corn lost 2% out of the top two categories, added 2% to the bottom two categories. Soybeans lost 1% from the top two and added 1% in the bottom two. Corn ratings fell in the west as expected, but surprising was 3% decline in Illinois to 70% good or excellent and Michigan down 5% to 62% in the top two categories. Nebraska and Colorado were both do

Highlights Yesterday’s news included the US Congressional visit to Taiwan for the purpose of jerking China’s chain, additional rain in the forecast with cooler temperatures for the Corn Belt and the Bank of China cut its interest rate. Lower interest rates improve economic activity, which increases demand. But gloom and doom mentality reared its ugly head yesterday as the market took the position that China’s economy must be in worse shape than expected and, thus, the country

Highlights The USDA will release its satellite generated Crop Report and resulting S&D on Friday at 11:00am CT. The FSA will release their Crop Acreage report the same day, with our first look at their estimate of Prevent Plant acres. This will include a resurvey of North Dakota actual planted acres. Yesterday morning, the USDA announced the sale of: 132,000 mts of new crop soybeans to China 105,000 mts of new crop corn to Italy 120,000 mts of new crop corn to unknown

Very few analysts dared predict the crop ratings released by USDA this afternoon, but Benson-Quinn analysts expected a slight downgrade. Corn percentage in the top two categhories was steady and beans improved 1%. The corn in Illinois and Indiana improved 3%, but Nebraska was down 3% and Iowa was down 4%. That sounds bullish for corn. The story was pretty much the same for beans. The numbers: In hind sight, today’s trading was dominated by macro-economic factors rather than

Corn: the market was expecting the corn to be rated 63% good or excellent; it was rated 61% as 3% of the corn crop went from good & excellent straight to the poor & very poor categories; that is a lot of bushels!

This afternoon's crop ratings in the good and excellent categories were:

The market expected the crop condition rating for corn, wheat and beans to improve by 1% in the top two categories. Spring wheat added 4%, corn was unchanged and beans lost 1%.

It appears the rain in parts of Iowa and Illinois coupled with the fear of the economic end of the world were the two reasons grain and oilseeds were so weak today.

The market expected corn conditions to lose 1% from the good and excellent categories; nope, corn conditions lost 3% out of the top two categories and the poor and very poor categories both gained 1% each. The market expected the soybean condition to be unchanged in the top two categories; nope, bean conditions lost 3% out of the top two categories. Like corn, the bottom two categories both gained 1%. For the corn and bean crops to lose 3% out of the top two condition