Good morning!

Our markets are higher this morning, led by soybeans.  The soybean market is reacting to the change in direction of tropical storm Isaac, due to hit just East of New Orleans on Wednesday likely as a Category 2 or 3 hurricane.  This probably means harvest delays for the Delta soybeans which is rallying soybean futures prices.  Isaac will also shut down oil rigs in the gulf, which strengthens crude oil and other energies. 

Nice rains fell across the corn belt over the weekend.  Too late to benefit this year’s crops but it  helps replenish soil moisture for the winter wheat. 

Friday afternoon Pro Farmer estimated US corn yield at 120.25 bpa with a production of 10.478bb (USDA was at 123.4 & 10.779).  They estimated US soybean yield at 34.8 bpa with a production of 2.6bb (USDA was at 36.1 & 2.692).  The next USDA S&D will be released Sept 12^th. 

Currently

Corn is 2 to 4 cents higher

Soybeans are 15 to 18 cents higher

http://www.fccoop.com/markets/information.cfm