Thanks cutworm!

For weather that effects the growing crops go here:

https://www.marketforum.com/forum/topic/10001/

Huge USDA report out this Friday!

Crop ratings have beans sharply higher today!

                By metmike - Aug. 6, 2018, 4:06 p.m.            

Corn down 1%, to 71% gd/ex.  Beans down 3% to 67% gd.ex.

Weather is bearish but this should get us off to a strong start tonight, especially beans.

Corn 57% in the dough stage vs 37% average............ahead on maturity, though the last 2 weeks were actually a bit cool and slowed things down a tad.

https://release.nass.usda.gov/reports/prog3218.txt

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Export inspections from Monday:

https://www.ams.usda.gov/mnreports/wa_gr101.txt

Beans were outstanding again. 

Corn dropped but still decent, wheat not so good.

The solid lows are in for corn!

CZ  at 385 is Trading 35c off the lows right now and 43c off the late May highs. Charts below are for the front month Sept.

Corn historical perspective:

Who remembers $8 corn not so long(5 years) ago   

3 month below September(front month) 

1 year below

5 year below                                      10 year below

Lows are in for beans! 

Under pressure late last week because of rains increasing in the Cornbelt in the Week 1 part of the forecast.  August is pod filling for beans and critical for determining yields.

SX is over 70c+ off the lows(which were 10 year lows), still almost $1.55 off the late May highs. Charts below are for the front month, Sept.

Soybeans: Wider perspective: Currently just above the 10 year lows !!!!!

Soybeans 3 months below

Soybeans 1 year chart below   

Soybeans 5 years below

Soybeans10years-Wow, look at that high from the drought of 2012...and demand, currently, we just bounced off of 10 year lows!

By cutworm - Aug. 2, 2018, 2:33 p.m.            

Wheat and corn at multi year highs,on the Paris exchange, going parabolic (headed to blow off top).Weather in Europe hot and dry. That,s why corn and wheat  are better than beans. Also I think i read about Austria having weather problems with their wheat.

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                By cutworm - Aug. 2, 2018, 2:41 p.m.            

I think the forecast for Europe is for high heat and dry from Spain across France and Germany over to Ukraine and Russia.

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                By bcb - Aug. 2, 2018, 4:52 p.m.            

Yes World Weather is supportive for Wheat BUT today the rumor was the Ukraine was going to limit wheat exports.

Funny how nobody caught that news today not even at AGTalk

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                By silverspiker - Aug. 2, 2018, 5:30 p.m.            

Thank you bcb. Good information on the wheat.

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                By metmike - Aug. 6, 2018, 12:42 p.m.            

Good discussion on how these temperatures effect the grain fill, started by Wayne this morning.

https://www.marketforum.com/forum/topic/9932/

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                drought in Missouri            

 Started by mcfarm - Aug. 5, 2018, 1:21 p.m.            

https://twitter.com/channelseed7/status/1025937976038240258  how dry is it in Missouri...already baling soybeans for feed

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                By cutworm - Aug. 6, 2018, 8:40 a.m.            

               Wheat; On the Paris exchange a little weaker on forecast of rain and cooler temps moving across Europe latter this week and earlier next week. There is a gap at 208 -210 euros if this starts to fill would be a sign that the top is in. If i were trading this I would have a stop at the gap and short at a break of the bottom of the gap. Wheat growers in US should be hedging 2019 wheat at these prices.

Corn; No gaps on the Paris chart but corn is weaker to day and weaker than wheat. This may be a short trem top in corn as we may head lower into harvest. 

These are just my opinion and not meant to be trading advice.

Here in W. Mn we have more and more opting to swathe and bale their wheat crops due to poor yield and grain quality potential caused by excessively wet conditions early on in the season.

"Here in W. Mn we have more and more opting to swathe and bale their wheat crops due to poor yield and grain quality potential caused by excessively wet conditions early on in the season."

Cliff,

Here are the crop ratings for your Spring Wheat in MN.  0% very poor. 1% poor. 16% fair and 83% gd/exc.  

Of course the crops can look better than they actually yield. The state with the highest rating for Spring Wheat crop this year? Minnesota.

The national crop is rated 74% gd/ex(-4% from the previous week) compared with 32% last year at this time.

https://release.nass.usda.gov/reports/prog3218.txt

Minnesota .......:     -           1          16          58          25  

Rains in #1 soybean(#2 in corn) producer Illinois at this time are causing a bit of pressure on beans/corn. 

The rest of the 12z  GFS will continue to come out for the next 35 minutes or so. 

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