Morning Comments July 22, 2019

Field Sign Detail Clear 2016

Opening Calls

Corn 6 lower 

Beans 2 lower 

Grains trading lower this morning as production uncertainty seems to be the analysts’ theme of the day. Last week we saw hot temps in the corn belt, but that came along with a few surprising rain showers to help the crop along. This week we are looking at a seasonally cool forecast as corn continues to pollinate across the Midwest. Acreage uncertainty remains at the height of trade talk, as everyone patiently waits for the August USDA report to see updated estimates. Today at 3pm we will see the weekly USDA crop progress and conditions report, where the good/excellent ratings for corn and beans are expected to be improved from last week. We can’t forget the old adage of “rain makes grain”, still holds true for the marketspace.