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Market Report


Markets @ close:

Dow -108.75

S&P -14.40

Nasdaq -39.67

 

US Dollar steady/higher. trend is higher.  Crude Oil is lower, trend is sideways.

 

Grain Markets @ Close:

Sept Corn -9’2 @ $3.50’6

Dec Corn -9’0 @ $3.58’0
Aug Beans -54’2 @ 11.10’0

Nov Beans -60’2 @ 10.77’2

 

Attached you will find a preview of the CVA Radio ad, set to air later this week.

 

USDA S&D Report around the corner July 12th

 

More acres, More bushels and more moisture.  Funds are liquidation record long position.  Funds sell 8k corn on the day, their long position is 132K, down from 275K on June 17. trend is lower.  Funds sell 7K Beans, their net long position is estimated to be 193K. The record is 260K.

 

South America – Argentina reported that 41% of their corn harvest is now completed compared to 60% LY and the 3 yr. average of 65%.

 

Export inspections: corn 57.1 last week 48.6, good number; beans 10, last week 11.6, another decent week.

 

Export sales: corn: old 18 million, 21 over estimate, new 21 million bushels. Beans old 27 million, 10 over the USDA estimate, new 29 million.

 

Corn crop condition rating, estimate 1-2% lower unchanged at 75% good to excellent, vs. 71% LY and 67% is the 5 yr average. This year’s corn crop is the 6th best rated since 1989.

Bean crop condition rating estimated to be 1-2% lower. decline 2%, 72% good to excellent, vs. 65% LY and 64% is the 5 yr average. The condition of this bean crop only surpassed by the crop of 2014.

 

Basis begins to firm up in the area as markets drop.

 

Corn/Soybean Ratio – It’s worth noting that the corn/bean ratio at about 1:3

 

Weather:

Saw heavy rain over the 4th of July weekend across the Midwest, as well as cooler temps.  Weekend rains in Missouri, Kansas, Illinois, and Indiana ease concerns over recent drier trend in those areas.  Weather tension eases and grain markets see pressure.  Chances of rain for the first part of the week and a couple days of heat and humidity.

Greg Mockenhaupt

ProEdge Risk Management Consultant

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

Greg Mockenhaupt

Greg Mockenhaupt

 

 

 

 

 

1007 County Road O

Oakland, NE 68045

www.cvacoop.com

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About katcountryhub
I am a graduate of Northeast Community College with a degree in journalism. I am married to Jeff Gilliland. We have two grown children, Justin and Whitney and four grandchildren, Grayce, Grayhm, Charli and Penelope. I will be covering Lyons, Decatur, Bancroft and Rosalie and am hoping to expand my horizons as time progresses!

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