Morning Comments August 22, 2019

Agriculture Cereals Corn 1242 Pixels Free To Use

Opening Calls:

Corn steady to 1 higher

Beans 1-2 higher

Yesterday’s ethanol numbers came out showing last week’s production at an 18 week low with rumors that plants are shutting or slowing down.

Trade is concerned with the cool forecast that corn will develop at a slower pace and be more susceptible to frost. Also on a world market, South American corn is 15- 40 cents under U.S. corn.

Funds have been liquidating their long positions on corn.

Pro Farmer tour continues to find crop behind schedule and yields lower than what the USDA has come up with. The Midwest had another round of rains last night.

U.S. dollar is steady.