Grain Exchange Update – Markets are up on the overnight market
Markets are up on the overnight market on corn and beans. Wheat bounced around staying even with yesterday. There were a few old and new crop sales to get the market rolling.
Corn: Up 1-2 cents
Beans: Up 2-5 cents
Meal: Up $1 – $2
SRW/HRW: Down 1-2 cents
Sonny Perdue stated at the Decatur Farm Progress Show that Trump will announce a plan soon to boost demand for biofuels. After many talks of ethanol slowing down, we have seen slight increase in production.
There continues to be multiple talks about China tariffs which will be put in places starting September 1st. This event could be a market mover depending on China’s buying reaction. There is also the new talk of a deal with Japan leading to bigger opportunities for ag commodities.
Spring wheat harvest continues in full swing in the Northwest and Canada. Sources say that the crop is looking better than expected. Ukraine also reported an increase in wheat crop by 3.2 mmt at 27.8mmt.
Harvest is coming sooner than we realize. Make sure you are meeting with your marketing specialist to discuss your delivery needs. We have many tools to help make your harvest run smooth. Just a reminder Monday is Labor Day, to honor that day Landmark facilities as well as the CBOT will closed.
Have a great day!