by Steve Freed
Month end. Grains are mixed. SU is down 7 cents and near 13.78. SX is down 6 cents and near 13.71. SMU is near 357.9. BOU is near 65.32. CU is down 2 cents and near 5.55. CZ is down 2 cents and near 5.53. WU is up 1 cent and near 7.06. KWU is up 1 cent and near 6.75. MWU is down 3 cents and near 9.14. US stocks are lower. US Dollar is lower. Crude is lower. Gold is lower. Risk off?
For the month wheat prices are up 26 in SRW, up 15 in HRW, up 65 in HRS; Corn down 35; Soybeans down 28 ; Soymeal down $21.40; Soyoil up 1.04.
There were no August soybean deliveries, 6 soymeal and 1 soyoil. Corn/soybean OI down, wheat up
Strong resistance near 14.18 SX, 370 SMU, 67.78 BOU, 5.73 CZ, 7.18 WU, 6.80 KWU and 9.44 MWU
Dalian soyoil futures lower. Canada RSO also lower on talk China to sell RSO from reserves
Another day of active China soymeal trade. Brazil soybean export supplies limited. China import needs?
Still talk of net drying next 10 days for US NW Midwest, north plains, Canada prairies and US PNW.
US Midwest temps moderate early next week. After day 10, warmer and drier for most of August
Russia dry. Hot and dry weather will move from N Africa to Black Sea. Brazil and Argentina dry
Strong debate between record US east corn and soybean yield vs lower west. US yield 177? USDA 179.5
Corn futures mixed with weather bulls versus export demand bears. US farmer big long. Consumer short
One fund bought 7,700 CN22 6.50 call sold 7.50 call for 17 cents, $6 mil cost. $32 mil gain if right
Analyst est US 21/22 SB carryout 120 vs 155, est corn carryout 970 vs 1,432 and est wheat 580 vs 665.
US annual spring wheat tour yield 29 vs ave yield near 44. High TW, protein. Few shriveled kernels
Canada wheat crop 21-22 mmt? exports 13 vs 27.5 ly? Russia wheat crop 77 mmt?
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