Monday August 17, 2020

• Market rally continues this week 
  • Storm damage from last week remains in the headlines – damage potentially worse than first predicted
  • USDA released high yields for corn and beans last week and optimistic demand – market seems to be ignoring the high yields and viewing them more as a “cap” and that they will only go down from there
  • Compiling on the damage and view that the yields will go down the Midwest has seen a dry weekend and is looking into a dry forecast for the week at a time where the bean and corn crop could both use a drink
• The meeting between China and the U.S. that was scheduled for this past weekend to discuss the trade deal was postponed