08/29/2024 Darkest Before Dawn

Above you will find today’s instalment of Moring Market Talk. China Absent You can click on the picture above to take you to this morning’s episode. New Corn Reco Day 2:  Adjust December corn sell offers of 10% from July 26th from $4.25 down to $4.22. New Soybean Reco Day 2:  Adjust 10% November sell orders to $10.43 or $10.61 January for producers that plan on putting beans in storage. On the Grains Good morning, limited news overnight as we start the day off. Export sales start the morning and should provide direction to finish up the week. Flash sales yesterday were a good start but the market continues to look for more volume. Taking a look at the ethanol report released yesterday, with one week left in the marketing year, it appears that the USDA’s ethanol usage number will be adjust higher by 20-30 million to 5.47-5.48 billion bushels. While it’s not a huge number it is something positive. We still have yet to put harvest pressure on the board, we’re starting to get tidbits of positive news. Crumbs at best. We didn’t get to this carryout/price overnight and we won’t get out of it that quickly either, especially this late in…