Thanks for the kick in the nuts, again,,,USDA

[beaverdam]

CBoT Wheat down 17 3/4 - 16.0 cents/bus

CBoT Corn down 11 1/2 - 10 3/4 cents/bus

CBoT Soybeans down 42 3/4 - 42 cents/bus

CBoT S.Meal down 10.9 - 11.6 cents/lb

CBoT S.Oil down .45 - .47 cents/lb

Kansas Wheat down 18 3/4 - 21 cents/bus

Minn Wheat down 21 - 21 cents/bus

Canola downn 3.80/t


No drought in the "I" states

[AlbertaFarmer5]

I followed the markets closely yesterday, and I thought the action was positive for canola at least. It appears that the divorce between canola and soybeans is now official. Canola started out trading in sympathy with beans and everything else, but never did drop as far, then recovered most of it's losses by the end of the day. Between the trade tariffs, which if anything are a positive for Canadian exports, and the drought in western Canada, we seem to be marching to our own drum lately.

Not sure that this report should have been a surprise, reading on New Ag Talk all summer, and most seem to agree that there are no widespread areas of disasters, and many areas are set up for a record. It is the rest of the world that will affect our markets for now. We are probably better off following European or Australian grain markets for direction, rather than US until this blows over.

[SASKFARMER3]

They had Canadian production up

[furrowtickler]

Gods way to knock prices down before the enevidable run up after harvest results prove otherwise

[fjlip]

US crop is always a RECORD, poor always cancelled by fantastic, what a country!

[macdon02]

Beans taking a run at sub 8 is my read

[farming101]

Beans taking a run at sub 8 is my read

First stop is the 810.5 logged in the August on July 16. A chance for a double bottom there.

If that doesn't hold then beans could be sub 8 in no time. Sept becomes front month next Tuesday. Currently about 5 cents over August

lower is the obvious outlook

[macdon02]

First stop is the 810.5 logged in the August on July 16. A chance for a double bottom there.

If that doesn't hold then beans could be sub 8 in no time. Sept becomes front month next Tuesday. Currently about 5 cents over August

lower is the obvious outlook

When they kick... I suspect at 7.88 there's close to $4 to the upside. February at best. It'll grind guys out till there's zero cash left and .... then

[errolanderson]

Beans taking a run at sub 8 is my read

Agree macdon . . . U.S. soy carryout may more than double over last year before the dust settles. USDA isn't reflecting the reality in lost China business in its data yet.

This may ultimately pressure cash corn values as well . . . .