Morning Comments August 19, 2020

Virtual meeting

Opening Calls:

Corn: 1 to 2 lower

Beans: 1 to 2 higher

Good Morning. Corn is trading slightly lower this morning as traders remain focused on the Pro Farmer Crop Tour results. Yield forecasts look to be positive and the USDA is currently projecting a national average of 181.8 bushels per acre this year vs 167.4 last year. The market will continue to watch the tour results as they have yet to make it to Iowa which suffers from both storm damage and drought conditions in much of the state. Soybeans are trading slightly higher this morning as weather becomes the focus for beans and Chinese demand adds positivity to the market. The Pro Farmer Crop Tour is reporting large pod counts which would be inline with the USDA’s current yield average of 53.3 bushels per acre vs 47.4 last year.

Join us for pre-harvest location updates and a chat with our CEO, Matt Carstens. RSVP today: https://marketing.landuscooperative.com/acton/rif/42104/e-018f-2008/-/l-tst:0/l-tst/showPreparedMessage?sid=TV2:in6yb00eT