Morning Comments, August 10, 2020

July Soybeans close up 1

Corn Steady

Beans 1-2 lower

Weather forecast for this week in Iowa has a chance for rain every day. Traders are also predicting the crop conditions out this afternoon will leave corn unchanged in the good to excellent rating.

With August S & D out on Wednesday, trade is also expecting corn yields to go a little higher with will push carry out higher. None of this helps to support the corn market.

Beans also feeling pressure for the wet weather forecasted this week. Traders also watching the shipments report out this morning, making sure China is going to start taking their shipments on grain they have purchased.

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