Ethanol production consumed 110 mb of corn, surpassing the pace needed to reach USDA targets. MY corn usage reached 5.180 bb, putting consumption on an annualized pace of 5.545 bb. If the current pace holds, total usage will reach 5.556 bb, exceeding the 5.550 bb target
The latest announced sale to China, just under 9 million soybean bushels...
Private exporters reported sales of 244,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year
Selected grain contracts at settlement...
Today's trade hints that many expect the USDA to push significant yield and production adjustments further down the line...
Dec CORN: down 1¼ cents to $4.60½
Nov SOYBEANS: down 10¾ cents to $11.68¾
Sep WHEAT: down 10¼ cents to $6.30¼
Not a major pullback by hogs today, but it's hard to find a reason to be bullish about pork right now...
October hogs dipped 35 cents to settle at $83.32½
5 million additional new crop soybean bushels announced to China...
Private exporters report 136,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year
Selected grain contracts at settlement...
Overnight trade suggested bigger moves today but the market chose caution ahead of Wednesday's new fundamentals from the USDA...
Dec CORN: down ¼ cent to $4.61¾
Nov SOYBEANS: up 3¼ cents to $11.79½
Sep WHEAT: up ¾ cent to $6.40½
Mixed day in the cattle markets as live contracts maintained recent strength while feeders faltered a bit...
October live cattle picked up $1.62½ to $226.90 while September feeder cattle dipped 65 cents to $344.57½
This morning's export inspections release for the week ending 8/6 showed soybeans and wheat totals exceeding the week prior and landing within the range of expectations. Corn inspects exceeded expectations, albeit down slightly versus the prior week
