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Quotes retrieved on August 21, 2018, 06:36:02 AM CDT



SLC Commentary

STATELINE COOPERATIVE EVENING COMMENTS 8/20/18

 

  

Corn: North Burt down 2 @ $3.20

  • The corn market traded lower on spillover weakness in the wheat market, rainfall across the Midwest with more rain in the forecast for this week.
  • Closes: September at $3.62, down 2 ¼ cents, December at $3.76 ½, down 2 ¼ cents, July at $4.01 ½, down 2 cents and December 19 at $4.02 ¾, down 1 ¾ cents.
  • Weekly export inspections were reported at 1.096 mmt compared to 1.262 mmt last week.
  • Corn conditions were down 2% to 68% G/E versus 70% G/E last week.
  • Day one of the crop tour looks to be finding above average yields in SD and OH. 

Soybeans: steady @ $ 8.06

  • The soybean market opened higher on hopes for renewed business with China as a third US soybean cargo unloaded at a Chinese port. Prices retreated, closing near the day’s lows on lack of confidence this week’s talks with China will result in renewed Chinese soybean purchases from the US.
  • Closes: November at $8.93 ¼, up ½ cent, January at $9.05 ¾, up ¾ cent, July at $9.35 ¾, up 1 cent and Nov 19’ at $9.28 ¾, up ¼ cent.
  • The products were mixed with meal down 1-2 bucks and soyoil up 13 points.
  • Day one of the crop tour reports above average pod counts in SD and OH.
  • Crop conditions are expected to be unchanged from last week.Last week was at 66% G/E.
  • Weekly export inspections were decent at 639 tmt, despite the absence of Chinese business. This compares to 581 tmt the previous week.

 



Forecast
Burt, Iowa (50522)
Current Conditions Fog
Temperature 64°F
Dew Point 63°F
Pressure 30.05 in. Hg
Humidity 94%
Wind 4 mph
From North


Forecast