Closing Remarks

July 21, 2017 

Provided by Matt Lukac, Sunrise Grain Solutions Advisor

Corn
Showers across the northern belt bring some relief; GFS sees scattered t-storms next Wed-Fri, but fairly dry for most corn and soybean areas:  CU: -$.11; CZ: -$.11
Informa is reportedly estimating U.S. corn yield at 166.2, down from 169.7 previously.  Commodity Weather Group is at 167.1;  Planalytics is 165.3

BA Grain Exchange keeps Argentine production estimate at 39.0 MMT, harvest 59% complete, up only 4 points as rains slow progress 
Beans

Soybean ratings expected to hold steady to down 1 and versus 61% LW  Argentina Ag Minister lowers SB crop estimate 2 MMT to 55.0 (58.8 LY)  BA Grain Exchange keeps Argentine production estimate at 57.5 MMT, harvest nearly finished

Bloomberg survey says Brazilian producers will plant 2% more soybean acres this fall, with the total rising to 34.5 million ha (85.3 million acres). FWIW, USDA even more “bearish”, sees area up 2.4%

August Beans closed modestly lower @ 10.09 -4 ¼ , Nov 17 10.22 ¼ down 4 ¾ cents.  Weather will be the main focus as we head into the last week of July.  August is usually
the month that beans are made in.

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