PDF attached

 

As
we approach the end of the month, US weather continues to remain the driver of the weakness in US agriculture commodities.  But today we are seeing technical buying in corn and wheat.  Some Chicago wheat contracts failed to close below key moving averages
yesterday.  Corn looks like a dead cat bounce.  Soybeans were slightly lower led by weakness in soybeans meal.  Soybean oil was higher in part to a upside reversal in Malaysian palm oil. 

 

 

 

Weather
and Crop Progress

 

 

 

7
Day Precipitation Outlook

 

Bloomberg
Ag Calendar

WEDNESDAY,
July 29:

  • EIA
    U.S. weekly ethanol inventories, production, 10:30am
  • Vietnam’s
    General Statistics Office releases data on exports of coffee, rice and rubber

THURSDAY,
July 30:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • The
    Australian Grains Industry Conference (online event)
  • Poland
    to publish grain harvest estimates

FRIDAY,
July 31:

  • ICE
    Futures Europe weekly commitments of traders report, 1:30pm (6:30pm London)
  • CFTC
    commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
  • FranceAgriMer
    weekly update on crop conditions
  • Malaysia’s
    palm oil export data for July 1-31 (tentative)
  • U.S.
    agricultural prices paid, received, 3pm
  • HOLIDAY:
    Singapore, Indonesia, Malaysia

Source:
Bloomberg and FI

 

 

 

 

 

Macros

 

Corn.

 

Corn
Export Developments

  • None
    reported. 
  • Syria
    seeks 50,000 tons of soybean meal and 50,000 tons of corn on Aug 25 for delivery within four months of contract signing.