West Central Ag Grain Comments 08/10/26 9:03:03 AM
08/10/26
- Good morning, grain markets are higher with corn, wheat, and soybeans posting grains to begin the trading week. Spreads are quiet with CN/CU out to -23 ¼ and SX/SF slightly firmer at -14 ¾ . Crude oil prices are higher with Sep WTI just under $80/barrel.
- Iran said that there is ‘no military solution’ to the strait of Hormuz reopening. President Trump indicated that the US is prepared to wait it out and sources indicate that Trump has backed away or toned down from his threats to go into an imminent escalation in the war.
- Weather forecasts show multiple inches of rain projected for most of the Midwest over the next 7 days. Temperatures are also expected to cool down, which should be an ideal August forecast. Crop tours will begin kicking off soon and we should get a better idea on the size of the corn crop.
- The August WASDE will be released at 11am on Wednesday this week. A lot of debate on yield and production, especially on corn. The average trade estimate believes that the corn yield will be dropped slightly. Look for some positions to get squared up before the report.
|
|
