Morning Comments August 21, 2020

Soybean

Opening Calls:

Corn: steady to 1 higher

Beans: 1 to 2 lower

Corn is trading higher this morning as we wait for the final yield estimates from the Pro Farmer’s Tour due out today. Iowa looked to have the largest decrease yesterday with 182.83 bpa last year vs. an estimated 177.81 bpa this harvest. Minnesota balanced out some of this loss with an increase from 170.37 bps in 2019 to an estimated 195.08 bpa this year. Final yields will still be in question as drought conditions continue over much of Iowa and increased temps forecasted for next week. Bears still point to an oversupply of corn in the U.S. as a factor to limit potential weather rallies.

Soybeans are traded lower overnight, as the pod counts from the Pro Tour look to be substantially higher than last year. Weather will still play a key factor over the next few weeks to see how the pods fill with dry conditions predicted.

Reminder: the last day to roll Price Later contracts is fast approaching. If you intend to roll your Price Later past next Wednesday, Aug 26th, we need your signed paperwork in our office by 1 PM next Wednesday. If not, it will be priced at that time. You can now sign contracts on our portal, so please don’t rely on the mail to get it to us if you haven’t already sent it in. Please contact your local Customer Service Specialist or Grain Marketing Advisor if you have any questions. Thanks 

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