Tidbits, Flash Sales & Market Comment, Pro Farmer Tour Results, Cattle & Milk, Rigs 8/22/26
- Wright team
- 45 minutes ago
- 5 min read
Tidbits
Flash Sales: Yesterday morning the USDA announced sales of:
205,000 mts of new crop corn to unknown
712,000 mts of new crop soybeans to China
720,000 mts of new crop soybeans to unknown
Market Comment:
That is 1.432 million mts of soybeans booked for export and November beans traded lower most of the day yesterday but did manage to settle 3¢ higher. The contract high was made on 24 July and yesterday’s settlement was 17¢ below the contract high. We have had a lot of bullish news about soybeans the past month and have not tested the contract high. That is not bullish even though the fundamentals continue to be quite bullish. Consider locking the futures that should be profitable right now if you missed it earlier.
December corn did exceed the 13 May contract high yesterday by 2½¢ to $5.09 on the expectation the Pro Farmer yield will be bullish, and Pro Farmer corn yield was probably more bullish than the price action indicates.
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