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08-04-2011 07:26 AM
Well, hopefully I get the date right. I guess I liked Aug 2nd so much I wanted to replay it yesterday.
Anyway, here we go.
Corn is called 7 to 10 lower on easing weather fears and a much stronger dollar this morning as Japan and Switzerland have moved to weaken their strengthening currencies.
As of about 7:15..
Beans are 10 to 15 lower on some of the same fears that corn is suffering from.
Wheat is called 10 to 15 lower as well.
The dollar is much stronger and oil is about $1.00 lower.
Equities are lower as we struggle to digest the slow drip of negative jobs data....
We have export sales in a few minutes.
Feel free to shoot any questions.
08-04-2011 09:06 AM
Scott...... What type of chatter (Unofficial water cooler talk) in regard to corn-bean yields being thrown around Chi town this morning?....... Or ...... Does the trade just think that the farmers are trying to talk there positions and the crop is better than Ag talk gossip............p-oed
08-04-2011 09:11 AM
I would say that without a doubt, the chatter is nervous about declining yields in both corn and beans. While my sources say there are not a lot of things to worry about YET....the trade continues to digest the slow drip of yield declines going into the USDA on the 11th. We are also very worried about the validity of the report because the volatility of their information has been growing as well.
08-04-2011 10:47 AM
not really suportive on the informa numbers....still consolidating going into the 11th. I feel like the number is more 153 bid at 155 but what do I know...just ask my wife. ;-)
Volatility is up in corn options today..reflecting some of that nervousness we spoke about earlier...
Market beginning broad based sell off....corn down 20 cents
08-04-2011 11:38 AM
Shallow kernal syndrome is turning out to be a vast area. Kernal counts are simalar to last year but kernal size is about half. Found ears last night that are starting to dent. Scouts from other states are reporting the same.