Grain Market Update – August 7

Wheat Harvest 2019

The markets have been on the downward spiral the last few weeks. There is a lot of speculation on what the report will read, come Monday at 11 a.m. Many people think that the USDA did not take into consideration the prevent plant acres. That should be on this report which may cause a bump in the corn market. Markets should remain relatively flat until that point, but be proactive once they do come out with targets. You can set your own targets with our Online Target Offer Center, click here.

Weather is still moving the market to some extent. Beans are, in large part, still being effected by the Chinese trade wars one way or another. Consider doing a cash plus with beans for a little premium that may get back to the $8 range for cash prices.

Wheat was effected as of late, due to weather conditions and other countries buying wheat from others outside the US.

Long Term Storage Agreement Listing: a local farmer has listed the reminder of their long term storage agreement, better known as condo storage. If you have an interest in purchasing this click here to see listing or contact Mary Kay for more details. They are listing a price for just this one year or for the remaining 12 years.

Written by: Michael Steingraber, CHS Grain Originator

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