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BQC Morning Comments Aug 29.24

MORNING COMMENTS

Ag Fundamentals:

Many believe we have seen the peak of this year’s US crop production estimates. The recent heat and rains in the wrong places (northern plains) are putting downward pressure on yield estimates across the country. Prices for both corn and beans have dropped back down to their 2014-2019 ranges. Corn in that time frame bounced between $3.00 and $4.50 and beans between $8.00-11.00 per bushel.

Weather:

The radar is clear over most of the US today. Some storms clearing out of eastern North Dakota and northern Minnesota. The National Weather Service has increased the probability of a tropical storm developing from 20% to 40% this morning. the storm track estimates are very wide and uncertain. It is not expected to reach the Gulf until the second week of September.

source NOAA.gov

EXPORT AND WORLD NEWS

As mentioned in yesterday’s morning comments, China bought another flash sale of US soybeans, 264K MT. Also, Mexico bought 165K MT of corn and Columbia bought 100K MT of corn

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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This is not a solicitation of any order to buy or sell, but merely a collection of information related to and commodities trading provided by Archer Financial Services, Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor do they purport to be complete. No responsibility is assumed with respect to any such element, nor with respect to any expression of opinion herein contained.

The risk of loss in trading futures and options on futures can be substantial. Each investor must carefully consider whether this type of investment is appropriate for them. Past performance is not necessarily indicative of future results.

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