Good morning!

Our markets are weaker this morning as widespread rains fell across the Central US over the weekend, generally coverage was between .10-.50” with some of our local areas here in Iowa getting a more meaningful 1” rain.  High temps were at or slightly above average.  Soybeans are sharply lower this morning but it is worth mentioning that they have bounced back nicely, they were down over 50c at one time overnight.

We are currently 96 hours away from the USDA’s August S&D report – after that gets released this Friday we should have a much clearer cut idea as to where prices may be trending into harvest.  Honestly, there are few (if any) people who have a clue as to what transpired over the past few months – in both supply and demand. 

Currently

Corn is 6 to 8 cents lower

Soybeans are 30 to 35 cents lower

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