08/30/2024 Trade Deficit, Interest Rate Cuts

Above you will find today’s instalment of Moring Market Talk. Cash Cattle, Drought Monitor, and Grain Technicals You can click on the picture above to take you to this morning’s episode. New Corn Reco Day 3:  Adjust December corn sell offers of 10% from July 26th from $4.25 down to $4.22. New Soybean Reco Day 3:  Adjust 10% November sell orders to $10.43 or $10.61 January for producers that plan on putting beans in storage. On the Grains Overnight action is a touch better on row crops as we round out the last trading day of August. I would be lying if I said I wasn’t surprised to see the board higher yesterday and this morning ahead of First Notice Day. Most of the pricing and rolling has taken place as we only have about 7,000 contracts of September corn and just shy of 2,000 beans left to deal with. While there is little doubt in any trader’s mind we have a crop, the question remains how large of a crop? A large swath of the upper Midwest needs some rain to finish the crop off. A client in NE Iowa has reported to me that he has had just over 3 inches…