Ag Overview

John WalshGrains

The markets are awaiting the USDA report on Thursday. Perhaps it remains quiet until then. Where do we go from here ? My observations are that most think the corn will go lower based on a increase in yield. Most think the bean crop is drawing down due to late yield reports that show a decline. It is my belief that the yields are ample and there in both. The question for me is what happens with the export pace. the corn could actually show improvement while the beans could really slow. These are just my theories and are subject to debate on both sides. However, there are some things that are facts. The global soy carry is at or near record. The US is loosing market share for the new year. this trend will continue as long as the weather remains beneficial in the southern hemisphere. The corn demand may remain robust and could expand given a few lucky breaks. In addition wheat acres are on the decline domestically. This is offered as food for thought. Lets see where the market comes in on Thursday. One truism over time the vast majority are not usually correct

Be well