CORN
- Sept down 7 @ 5.54 @ Dec down 9 @ 5.55
- Corn exports sales of 216.5K mt – down 43% from last week
- Crude down $2.00 today – adding pressure
- US dollar highest its been since April
- Argentina is the only competition, US positioned well from demand aspect
- US ethanol declined with a drop of 13K bpd to 973K bpd
- Preliminary changes in futures open interest as of 8/17 down 4,194 contracts
SOYBEANS
- Sept down 31 @ 13.27 & Nov down 30 @ 13.22
- Fall in veg markets & outside markets pushing futures much lower
- Soybean export sales of 67.7K mt – down 30% from last week
- Daily export sales of 263K to China & 148K mt to Mexico
- Market unresponsive to 11 days in a row of daily export sales
- Rains on the horizon starting today and through weekend
- Preliminary changes in futures open interest as of 8/17 up 1,811 contracts
WHEAT
- Sept wheat down 10 @ 7.27, Sept KC down 8 @ 7.15, Sept MNPLS down 5 @ 9.17
- Wheat export sales of 306.7K mt – up 5% from last week
- Rise in US dollar pressuring futures
- US wheat still overpriced globally
- Egypt wheat purchase – paid highest price in 6 weeks
- China still in demand of wheat following floods
- Preliminary changes in futures open interest as of 8/17, down 6,952 SRW
CATTLE
- Oct LC down .65 @ 128.40 & Sept FC down .90 @ 162.45
- Export sales of 11,100 MT – down 18% from last week
- Higher cash trade developing 2.00 higher
- Boxed beef prices jumped with choice up 2.02 & select up 3.30
- Cattle slaughter projected at 120K
- Feeder cattle cash index for Aug 17: down .65 @ 154.91
HOGS
- Oct hogs down 1.35 @ 87.75 & Oct pork cutout down 1.05 @ 101.27
- Export sales of 20K mt – China only buying 600 mt
- Cash unfortunately falling again, down .81
- Cutouts rebounded hopefully a bottom has been established
- Hog slaughter projected at 476K
- Cash lean index for Aug 17: down .47 @ 109.17
Author
Amberlee Bratcher