AUGUST 03 MORNING AG OUTLOOK

by Steve Freed

Grains are lower. SU is down 10 cents and near 13.45. SX is down 10 cents and near 13.42. SMU is near 353.4. BOU is near 63.47. CU is down 4 cents and near 5.54. CZ is down 3 cent and near 5.56. WU is down 4 cents and near 7.25. KWU is down 3 cents and near 7.00. MWU is down 4 cents and near 9.18. US stocks are higher. US Dollar is lower. Cruse is higher. Gold is lower.

For the week so far wheat prices are up 21 1/4 in SRW, up 27 1/4 in HRW, up 14 in HRS; Corn is up 10 1/2; Soybeans down 6 3/4; Soymeal up $0.25; Soyoil down 0.72.

Chinese Ag futures (SEP 21) Soybeans up 66 yuan ; Soymeal up 9; Soyoil down 142; Palm oil down 220; Corn up 27 — Malasyian Palm is up 26. Malaysian palm oil prices overnight were up 26 ringgit (+0.63%) at 4146 after posting its biggest loss in seven weeks, with expectations about a recovery in demand from top buyer India and tight supplies from Malaysia improving sentiment.

Midwest corn, soybean and winter wheat forecasts: West: Mostly dry through Wednesday. Isolated showers Thursday, north Friday. Temperatures near to below normal Monday-Tuesday, above normal north and below normal south Wednesday-Thursday, near to above normal Friday. East: Mostly dry through Wednesday. Isolated showers Thursday-Friday. Temperatures below normal through Wednesday, near to above normal Thursday-Friday. 6 to 10 day outlook: Scattered showers Saturday-Wednesday, especially north. Temperatures near to above normal Saturday-Wednesday.

NASS rated us corn crop 62 pct G/E vs 64 lw and 72 ly. IN, OH, SD improved. IA, MN, ND, dropped. US soybean crops was increased to 60 pct G/E vs 58 last week and 73 ly. IL, IN, MI, MS, OH and TN improved. MN, MO dropped. ND rated only 17, SD 30. US HRS crop rated 10 pct G/W vs 9 last week and 73 last year. Private crop group StoneX will release and update on US 2021 crop production today

The information conveyed by ADMIS or it’s affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity future contracts.

2021-08-03T13:42:19+00:00 August 3rd, 2021|