MarketEdge PM Comments
Aug 16, 2023
(Sam Bair)
Good evening, grains finish mostly higher aside from Wheat. September Corn futures are up 5^4 closing at 469^4, and new crop corn is up 6^0 closing at 481^4. Nov bean futures are up18’2 closing at 1323^4. Wheat finishes slightly lower after the day session.
Have a great night.
Good evening, grains finish mostly higher aside from Wheat. September Corn futures are up 5^4 closing at 469^4, and new crop corn is up 6^0 closing at 481^4. Nov bean futures are up18’2 closing at 1323^4. Wheat finishes slightly lower after the day session.
- Drier, and hotter for the 1-5 day forecast, across most of the belt.
- Reports of Russia attacking Ukrainian Grain ports along the Danube River, last night.
- Funds were covering short positions today helping the bounce back today.
- It is estimated the funds bought back 5,000 contracts of corn and 7,000 contracts of beans today.
- Pro Farmer Crop Tour will start next week, with a possibility to bring pressure or support to markets.
- Livestocks were lower today, with Cattle, feeders, and hogs finishing in the red.
- Gold, Dow Jones, Nasdaq, and S & P all finish lower on the day.
- Please RSVP for your annual 2023 RVC Crop Tour with your local Grain Originator!
Have a great night.