Good morning!

Our markets are lower again today on very little new news.  The weather models this morning look relatively unchanged from yesterday – maybe a little wetter long term but that’s it.  There is a tropical storm forming in the Atlantic (expected to be named Ernesto).  This will likely delay bean harvest in the Delta which could end up being friendly to the bean market, but it could also bring rains to the Midwest which would be bearish to prices.  Time will tell as we watch this move.  It appears the longs in the bean market aren’t willing to wait around as they are selling again today as beans lead the charge lower.

The corn market appears to be stuck sideways to lower.  Nobody quite know what to use for a production number, yield is all over the board and harvested acres are a question mark as well.  1 week from tomorrow the USDA will release their August S&D report – this will be a big one.  They should have yield numbers broken out by state, which will be interesting to see.  A few private companies are coming in with their guesses but the most followed one (Informa) comes out with their guess tomorrow. 

Currently

Corn is down 5 to 8 cents

Soybeans are down 15 to 20 cents

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