Friday July 10, 2020

• Markets quiet leading into the USDA report out at noon today – interested to see how last weeks acreage adjustments impact the supply and demand tables 
• Scattered rains expected across the Midwest this weekend as forecasts remain hot 
  • Depending on coverage in some of the major crop production regions rains are pivotal and could set the stage for a volatile market 
• The market is respecting this weather risk with recent gains however the crop has room for concern with ample old crop supplies as well as softening demand 
• Watch the markets at noon to see reaction to report