August 25, 2020

Grains finished higher with hot, dry forecasts feared to be pushing crops and thus reducing yield

I believe the August USDA production numbers are the highest we’ll see this crop year with weather stressing plants along with storm damage ravaging big producing areas

Weather looks to cool off and bring rain early next week from Hurricane Laura

Typically it takes a strong atmospheric disturbance like a hurricane to change dry weather patterns

USDA reported that China bought 16.1 million bu. of corn & 7.5 million bu. of soybeans

Unknown destinations also bought 5.2 million bu. beans & Japan bought 3.9 million bu. of corn

China and US trade representatives held their virtual meeting regarding the Phase 1 trade deal

Both sides appeared to be pleased with the progress, although China has a long ways to go to fulfill it

Corn condition ratings fell 5% yesterday to 64% good/excellent vs. 57% last year and 66% on average

Soybean condition ratings fell 3% to 69% good/excellent vs. 55% last year and 64% on average

August 25, 2020