Friday August 2, 2024

• Corn, beans, and wheat all trading in the green this morning. 
• Flash sale of  202,000 mt of soybeans to China for 24/25 delivery. 
• StoneX Brazil has raised there 23/24 second crop of corn from 92.9 to 93.55mmt, due to better late yields with harvest nearing completion. 
• Stonex estimated national corn yields at 182.3bu/ac yesterday in the initial customer survey, up from the 181bu/ac that the USDA reported. Soybean yield was pegged at 52.6bu/ac, up from the USDA’s 52bu/ac. Other private estimates to be released next week. 
• June’s USDA total crush came in at 183.7 million bushels yesterday, below the average 184.6mbu trade estimate, but coming in above last years June total of 174.5mbu.
• Corn used for ethanol of 442 mln bu was down from 455mln last month., but in line with last year. 
• The French wheat crop rating held steady at 50% g/e with harvest 67% complete, some were anticipating a 1-2% decline due to ongoing poor crop quality comments.