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DTN Midday Grain Comments 08/22 11:03

23 Aug 2019
DTN Midday Grain Comments 08/22 11:03 Corn, Beans Lower at Midday Broad selling at midday except for wheat. By David Fiala DTN Contributing Analyst General Comments The U.S. stock market indices are weaker with the Dow 380 lower. The dollar index is 40 points lower. Interest rate products are lower. Energies are weaker with crude down 1.50. Livestock trade is sharply lower. Precious metals are mixed with gold 27.30 higher. CORN Corn is 3 to 4 cents lower with choppy trade continuing amid fresh intensification of the trade war. Weather should continue to remain a short-term non-issue with continued cool weather the biggest concern at this point. Ethanol margins remain poor with blenders in the best position currently, with more plants likely to be idled with rumors of the refinery waivers to be reversed again refuted. Basis remains mixed overall with harvest getting closer. On the September nearby chart support is likely the $3.57 1/2 low with the lower Bollinger Band at $3.47 below that with resistance the 10-day at $3.65. SOYBEANS Soybean trade is 8 to 11 cents lower with early buying disappearing again with trade slipping further into the lower end of the range amid the trade war intensification. Meal is 2.00 to 3.00 lower, and oil is 15 to 25 points lower. Crush margins remain positive overall, with oil staying towards the upper end of the range, and meal finding support at $2.90. Basis remains flat overall. The Brazilian real is at the lows again with the dollar strength, ensuring strong prices to domestic producers there, even with the midday dollar reversal. The weather looks to be a short-term non-issue for soybeans as well coming forward. The trade situation remains little changed as well. September chart support is the lower Bollinger band at $8.41, with the next round up the 10-day $8.61 which we tested again today. WHEAT Wheat trade is narrowly mixed at midday with trade seeing light choppy action after the strong finish yesterday. The Kansas City/Chicago spread is at 78 after a high of 90 cents last week and a low of 71 cents this week with Kansas City gaining slightly overnight. The corn/HRW spread is wider, back to 31 cents. Kansas City wheat is now back to competitive on the world market trading as well as into feed rations, although that has faded in recent days. Spring wheat harvest should expand with winter wheat just about wrapped up, with Europe progressing as well. The dollar remains near the upper end of the range, limiting upside potential. The September Kansas City chart support is the new low at 3.80 3/4 with the first resistance the 10-day at $3.89 which we are just above at midday, and the 20-day at $4.06. David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered adviser. He can be reached at Follow him on Twitter @davidfiala (CZ) Copyright 2019 DTN/The Progressive Farmer. All rights reserved.
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USDA Details Trade Damage Estimate Calculations

23 Aug 2019
(Washington, D.C., August 23, 2019) – U.S. Secretary of Agriculture Sonny Perdue today announced that the U.S. Department of Agriculture (USDA) Office of the Chief Economist has published a detailed accounting of how estimated damage from trade disruptions was calculated for its support package for farmers announced on July 25, 2019.

DTN Cattle Prices/Trends 08/23 11:10

23 Aug 2019
DTN CATTLE PRICES/TRENDS 08/23 11:10 HEAD SOLD LIVE STEERS DRESSED LIVE HEIFERS DRESSED KANSAS 1,000 106.00 . 106.00 . NEBRASKA 2,700 108.00 175, Few 176 108.00 175, few 176-178 TEXAS 1,000 105-106 . 105-106 . COLORADO . *107.00(BID) . *107.00(BID) . IOWA 500 . 175.00 . 175.00 *PRIVATE SOURCES DTN COMMENTS: A light to moderate trade has developed i...

DTN Weather Trend Indicators 08/23 09:54

23 Aug 2019
DTN Weather Trend Indicators 08/23 09:54 Weather Indicator status values are: Corn=Down Soybeans=Down Wheat=Down LEGEND: The indicator choices are: Corn, Soybeans, Wheat The status choices are: Up, Down, Neutral For example: Corn=Neutral (ES)

USDA Daily Market Rates 08/23 06:48

23 Aug 2019
USDA Daily Market Rates 08/23 06:48 DAILY MARKET RATES(GRAIN/MISCELLANEOUS COMMODITIES) Effective: August 23, 2019 The following Market Rates are established to aid in the development of the Posted County Prices (PCPs) which are used by county Farm Services Agency (FSA) Offices for loan redemption purposes. Uses of these rates for other purposes ma...
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