Good morning!

Our markets are mixed to lower this morning, beans had a fairly wide range last night, trading a dime higher to nearly a dime lower and is currently back higher again.  The uncertainty surrounding Friday’s USDA S&D report is probably triggering some profit taking (long liquidation) and is making it difficult to introduce any new speculative buying – giving the market a bearish tone overall. 

The weather also feels a tad bearish this morning as small rains fell across the WCB overnight and the forecasts show improving chances for rain over the next 2 weeks.  The outside markets are a negative input this morning with the DOW & crude oil under pressure while the dollar bounces higher. 

Currently

Corn is 2 to 3c lower

Soybeans are 4 to 6c higher

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

Trade estimates for Friday morning’s report vs. July USDA numbers (ending stocks):

Trade estimates for Friday morning’s report vs. July USDA numbers (yield/production):