Wednesday August 4, 2021

• Markets rebounding after a down day yesterday 
• StoneX released their initial estimates for U.S. yields yesterday
  • Corn at 176.9 ub/ac – below current USDA estimate of 179.5 bu/ac 
  • Soybeans at 50.0 bu/ac – also below USDA estimates of 50.8 bu/ac 
• We will see the August USDA next week and will see if their yield predictions will stand or if they will lower estimates due to the heat that has plagued a good portion of the North West growing region this summer 
• We will continue to see private yield estimates before next Thursdays report with the overwhelming opinion that estimates will be lower than July reports