Floor Talk August 10

[ty22223786599]

Wheat futures were lower overnight as farmers in Argentina finished planting in ideal weather, while corn and beans were little changed ahead of today's WASDE report. Wheat was down 1-3 cents, corn was unchanged and beans lost about 3 cents. Analysts said they expect the USDA to raise its forecast for both corn and bean yield and production in today's report. While ratings have been declining recently, crop conditions remain pretty high for this time of year. In weather news, rain is expected today in parts of Missouri, Iowa, Wisconsin and Minnesota, according to the National Weather Service. Check out today's 3 Big Things for all the details. 

West Texas Intermediate = up 0.5%.

Brent Crude = up 0.5%

Dollar = up 0.5%.

Wall Street = U.S. stock lower pre-market.

World Markets = Global stocks lower overnight.

[Whitesand_Farms]

I also heard through the grapevine that Russia and Ukraine will have record crops coming in 2021. The prices will have to drop down another 10 cents. What puzzles me is if the EU crop is only going to be down 10% of average why is everyone crying for a bailout over there? Heck my production drops 20% here and well it was just a poor year and I don't buy anything new. Another thing that puzzles me is why I don't see any production numbers or yields for the winter wheat crop in the news just harvesting pace? And in next weeks wheat news Western Canada to receive rains at harvest that don't harm quality but magically boosts yields on ripe crops lol.

[illinifarmer]

Haven’t seen a rain here in over three weeks, oh well says the market other areas have.

[sw363535]

Whitesand, 

I am told that the losses in europe are closer to 50%-60%.  Naturally that is not part of the script at usda or any of the global media.

Notice how the reuters/successful farming article on china creates the scenario that the normal seasonal reduction in soybean exports to China this spring were "anticipating" the Trump tariffs.

FAKE news........rums rampant around every report date.

Illini......... just saw that area now shows up on the drought monitor ........ as fast as these crops are developing, 3 weeks dry in august changes things.

Inteesting we are not getting any yield reports out of Georgia and south Texas yet

Lots of silence on harvest reports from USDA  and the hateful media.

[roarintiger1]

Well, we all must be doing a great job raising a large amount of crops on less and less acres.   We as U.S. farmers have to be the most efficient business in the world.  Congratulations on yet another record crop.

The fact that we are not yet locked at limit down is a moral victory........but, the day ain't over.  

[cborman11]

A complete BS report by the usda no way in hell.

[futurestrader92]

God I love report days. You can smell the money being made. 

[tOTALED]

Thank the good lord we finally have a farmer- friendly USDA. Make America great again at bargain basement sales.

[roarintiger1]

Any chance there is collusion between the USDA and China?   I think we need another special counsel.  

[illinifarmer]

CROOKS!!