Grain Express 8/8/22
Posted: Aug. 8, 2022, 8:24 a.m.
Fundamental Snapshot
Rain, Rain Don't Go Away A welcomed rain hit a large portion of Northern Iowa and Southern Minnesota over the weekend. The 6-10 day temperature outlook is cooling for the eastern Cornbelt, but above average temperatures remain in place for much of the western corn belt including large portions of Nebraska and Iowa. Ukraine Grain Sets Sail Four more ships loaded with grain departed Ukraine, three from Chornomorsk and one from Odessa. CoT Update Corn: Managed Money were net buyers of 9,133 futures/options contracts through August 2nd, expanding their net long position to 129,921 contracts. Soybeans: Managed Money were net buyers of 11,795 futures/options contracts through August 2nd, expanding their net long position to 99,471 contracts. Wheat: Managed Money were net sellers of 4,579 futures/options contracts through August 2nd, expanding their net short position to 14,970 contracts. This Week’s Agenda Crop Progress will be out after today’s close, expectations are for another decline of 1-2% in Good/Excellent conditions for corn and soybeans. The big-ticket item this week will be Friday’s USDA report, we will have estimates out beforehand. |
The Technical Landscape
Corn (September)
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Soybeans (September)
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Wheat (September)
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