PDF attached

 

USDA
reported 260,000 tons of soybeans to unknown. 

 

 

 

 

Weather
and Crop Progress

 

7
Day Precipitation Outlook

 

MARKET
WEATHER MENTALITY FOR CORN AND SOYBEANS:  U.S. weather is expected to be mostly favorable as it should continue to be in India and China.

            Net
drying will occur in parts of Canada’s Prairies for a while this week into next week which may stress a few crops like those of the northwestern Plains. Crop conditions are improving in Mexico and still look good for Australia with significant rain coming
soon to that nation.

            Early
season corn planting will advance quickly in Brazil, but rain is needed to improve soil moisture for emergence and establishment. Dryness and some excessive heat will be a concern for summer coarse grain and oilseed crops in parts of western and southeastern
Europe as well as eastern Ukraine into Russia’s Southern Region. Dryness will also continue in some of the sunseed areas of Russia’s eastern New Lands.

            Some
concern over net drying will also continue in oil palm production areas of Indonesia.

            Overall,
weather today will likely produce a mixed influence on market mentality with a bearish bias remaining.

 

MARKET
WEATHER MENTALITY FOR WHEAT:  Most of the damage done to this year’s spring cereals has already been done and no further change of great significance is expected unless the harvest season turns wet.  Some lower production is expected from Russia and Europe
due to dryness in the New Lands and in various areas in northwestern and far southeastern Europe. China’s spring wheat has performed well. Australia’s winter crops will benefit greatly from rain coming over the next two weeks and some ongoing dryness in Canada’s
Prairies may further stress late filling crops. Argentina drought will not change over the next two weeks.

            Overall,
weather today will likely leave a neutral to slightly bullish bias to market mentality.

 

 

Bloomberg
Ag Calendar

MONDAY,
August 3:

  • USDA
    weekly corn, soybean, wheat export inspections, 11am
  • International
    Cotton Advisory Committee updates global outlook
  • ABAG,
    Brazil’s agri-business association, hosts annual conference
  • U.S.
    crop conditions for soybeans, corn, cotton; wheat harvesting progress, 4pm
  • USDA
    soybean crush, 3pm
  • U.S.
    DDGS production, corn for ethanol, 3pm
  • Malaysia
    palm oil export data for July 1-31 from AmSpec, SGS
  • Honduras,
    Costa Rica coffee exports for July
  • EU
    weekly grain, oilseed import and export data
  • Ivory
    Coast cocoa arrivals
  • HOLIDAY:
    Canada

TUESDAY,
August 4:

  • U.S.
    Purdue Agriculture Sentiment
  • New
    Zealand global dairy trade auction
  • Australia
    commodity index

WEDNESDAY,
August 5:

  • EIA
    U.S. weekly ethanol inventories, production, 10:30am
  • China’s
    CNGOIC to release supply-demand reports on corn, soybeans
  • French
    Agriculture ministry’s 2020 grain estimates
  • Malaysia’s
    palm oil export data for August 1-5
  • New
    Zealand Commodity Price

THURSDAY,
August 6:

  • FAO
    World Food Price Index
  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • Port
    of Rouen data on French grain exports

FRIDAY,
August 7:

  • China’s
    foreign trade data for July, including imports of soybeans and meat
  • 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

Source:
Bloomberg and FI