Tuesday August 11, 2020

• Severe weather across the U.S. yesterday caused crop damage as well as damage to many grain elevators and storage facilities 
  • About 10 million acres of corn will be impacted at varying degrees
    • Keep in mind often the fields you will see posted on the news or twitter are the worst of the worst 
• Monthly USDA supply and demand report out tomorrow
• U.S. crop progress
  • 71% of corn crop is rated good/excellent – widening the gap from the average rating of 66% g/e
  • Soybeans rated 74% g/e – condition still climbing and well ahead of average of 63% g/e
  • Winter wheat harvest now 90% complete – just behind average pace of 93% complete
• IKAR raised their estimates for the Russian wheat crop to 81 MMT
• IKAR raised their estimates for the Russian wheat crop to 81 MMT