The next USDA report is Crop Production: August 12, 2019.
Market Comments for July 15, 2019
The grain markets could not continue their upward momentum today, starting the night trade higher and ultimately giving way to lower prices. Wheat led the way lower, losing 13-15 while corn and beans lost 10-12. The market pulled back after having a good week last week but ran into technical resistance. Prices were approaching nearby highs or significant resistance but we didn’t have the story to push us into new territory. We will get crop condition ratings at 4pm today. The trade is expecting a small drop in ratings in corn and beans. Weather is the story now until August 12th when we get the next WASDE (World Ag Supply and Demand Estimates) report from the USDA. Remnants of the tropical storm are soaking the southeast but dry areas may start stressing crops elsewhere as seasonally hot weather settles in. Markets are jittery and reacting to each new weather forecast.