As August begins, grain traders continue to monitor the weather and U.S. crop conditions. “The temperatures are expected to heat up again in a few weeks, but the rain is supposed to come right along with it. That’s keeping the lid on the market prices at the moment,” said Naomi Blohm, senior market advisor, Total Farm Marketing. “Seasonally, we see grain prices stretch lower in August. The market is balancing weather, the size of the next crop and demand. The next few weeks will be critical for price direction.” There have already been some export sales to unknown destinations this week. Blohm said additional, significant purchases would be needed to get the grain markets excited. “In the back of our minds, we’re still wondering if China will actually meet their phase one deal commitments.”
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.