August 1, 2018

Good Morning,

Markets currently trading two lower on corn and fourteen lower on soybeans. Lower market is led by a much more unstable forecast, versus yesterday’s outlook, as well as profit taking at the beginning of the month.

With the first day of August upon us, we need to realize what seems to be a great crop overall. Most areas to the south are well developed, and our area is pretty far along on development. August updated yield report is just around the corner, and likely not going to lower corn yield from 174. With these pieces of news, below are some targets to consider if we do see some hot/dry weather premium:

Old Crop – Call for options
Fall Delivery – $3.65-3.75
Spring 2019 Delivery – $3.80-3.90
Summer 2019 Delivery – $3.90-4.00

Have a Great Day!

Mitch Giebel