Market Report

Dow +40.88
S&P +4.87
Nasdaq +19.30

U.S Loosens the longtime ban on oil exports.  The U.S Government is allowing energy companies to trade oil with Mexico, which is a small step toward lifting the 40 year ban which prevented the selling of U.S. crude.  This looks to give American drillers a new market for their product.  This is potentially positive for oil prices and positive for grain.

Grain Markets @ 10:18am
Sept Corn -1 @ $3.63
Dec Corn -1 ¼ @ $3.72 ¼
Sept Beans +2 ¼ @ $9.27 ½
Nov Beans +1 @ 9.17 ¼

The first round of FSA acreage numbers come out this morning, this data is very early in the game, and the long term accuracy is questionable, FSA report as of August 1, showed slightly larger than expected total US prevent plant acreage at 6.44 mln acres, with corn at 2.300 mln acres, beans 2.173 mln acres

Pro Farmer crop tour begins today and continues through Thursday, final estimates reported on Friday.  It will be interesting to see if they confirm the increased yield that the USDA hit us with last week.  Watch for updates throughout the week, in fact, they have already “Tweeted.”  You can find the schedule here http://www.profarmer.com/pro-farmer-services/more/seminars-events/about-crop-tour#schedule

For Fun: With School either starting soon, or already begun, I now have 2 junior high boys.  My youngest, now entering 7^th grade told me he is scared.  Scared he won’t find his classes, scared he won’t remember his locker combination.  I told him it will be okay…..the crazy thing is….I still occasionally have that dream as an adult. You know, when I’m in Junior high lost, trying to find my next class, can’t get my locker open, and freaking out.  I am sure you have had this one too, so maybe it is that scary for a 7^th grader.  Especially if I still have that dream….

On a lighter note, what’s the deal on #2 pencils?  I always wondered why it “Must be a #2 pencil” for your SAT test.  Despite the “bubble” test now being taken over by computers, I still thought it might be interesting for the older generation (you know….the ones born in the 1900’s).  The pencil numbering system is a reflection of how hard and how black a pencil’s lead is.  Pencils numbered higher than 2 have harder leads and are often used by engineers, architects, and draftsmen because of their harder points.  If you mess up and use a #3 pencil on your test, it won’t matter, it might be a bit harder to erase if you make a mistake is all.

http://mentalfloss.com/article/24832/what-makes-2-pencils-so-special

Greg Mockenhaupt

ProEdge Risk Management Consultant

P: (402) 685-5613 | Greg.Mockenhaupt@cvacoop.com

1007 County Road O

Oakland, NE 68045

www.cvacoop.com