CORN
- Dec up 7 @ 5.43
- US corn declined to 60% good/excellent
- US corn 85% in dough stage – 41% dented
- Supplies remain tight and US still cheap globally
- China’s internal price fallen to 9.84
- Brazil’s crop 79% harvested
SOYBEANS
- Nov up 35 @ 13.28
- US soy conditions fell to 56% good/excellent
- US soy 97% in bloom – 88% setting pods
- Friendly weather ahead for northern Plains & upper Midwest
- China reports zero new Covid cases on Monday
- Domestic soybean basis
WHEAT
- Dec wheat down 1 @ 7.32, Dec KC down 1 @ 7.17, Dec MNPLS up 2 @ 9.08
- Storms in nothern Plains adding pressure to futures
- Paris milling futures down today
- Russian wheat harvest yield down 12.5% from last yr
- Concern for dryness to Argentine wheat
- Drought in US still in full effect for northern Plains
CATTLE
- Oct LC up 0.32 @ 132.35 & Sep FC up 0.52 @ 167.82
- Cattle futures finding support from Cattle on Feed report
- Packers expected to bid higher to keep plants running
- Boxed beef continues to increase
- Choice cuts up 2.97 & select cuts up 0.87
- Choice cuts jumped 3.43 Friday, while select gained 2.12
- Cattle slaughter projected at 121K
- Feeder Cattle Cash Index for Aug 20: down 0.06 @ 155.73
HOGS
- Oct hogs down 0.62 @ 88.85 & Oct pork cutout down 0.60 @ 100.57
- Hogs trying to borrow support from cattle, but failing
- Cutouts fell 6.00 yesterday
- Trade concerned about supply issues or lack thereof
- Hog slaughter projected at 477K
- Cash Lean Index for Aug 18: up 0.34 @ 107.90