Total Farm Marketing Senior Market Advisor Naomi Blohm says grain traders are trying to get a better grasp on where corn and soybean yields will end up. “This week’s USDA report will indicate whether or not we’ll be sticking around record yield or if it’s not as good of a crop. There is usually always a yield adjustment in August.” Blohm says the August weather is still a factor in the grain markets. “If we get a one inch soaking rain across the Midwest, that would likely trump the data coming out of the upcoming WASDE report. We’re also monitoring demand.” The August World Agricultural Supply and Demand Estimate report will be released on Thursday, August 12 at 11 a.m. Central Time.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.