8/23/2019
 
Corn down 4, Beans down 12, Wheat up 8

Crude oil- 53.85 down 1.5

US Dollar- 97.2 down .55

Dow- 25631.54 down 621.72
 
The Pro Farmer Tour concluded today with a concern for the late crops and numbers mostly slightly less than the USDA. They estimated corn yields to be 163.3 for the US, 6.2 bu/ac below the August USDA report. 150 Ohio, 10 bu/ac below the USDA, 160 Indiana, 6 below USDA, 170 Illinois, 11 below USDA, 181 Iowa, 10 under USDA, 167 Minnesota, 6 below USDA, 183 Nebraska, 3 under USDA, 140 South Dakota, 17 under USDA. US Bean estimate is 46.1, 2.4 under the USDA’s earlier estimates. 39 Ohio, 2 under USDA, 46 Indiana, 4 below USDA, 50 Illinois, 5 under USDA, 55 Iowa, same, 42 Minnesota, 4 below USDA, 57 Nebraska, 1 under USDA, 39 South Dakota, 6 under USDA. These numbers were officially released after the close today and may help prices, but most of these estimates have been floating around the market since Tuesday and did little to help prices earlier in the week. The big news today is China releasing more tariffs on US Soybeans and Livestock effective September first and more to come for Corn, Wheat, Sorghum and Soybean Meal and Oil December 15th. Trump responded by saying US companies should quit doing business with China and pull jobs from China as well, he has also came out this afternoon with a tariff increase of his own, adding 5% to make it 15% on $300 billion worth of imports starting next month and 30% on $250 billion starting in October.

I hope everyone has a good weekend.

Zach
 
 
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