Grain > Commentary > 8-6-2024

8/6/2024

Aug 06, 2024

Turnaround Tuesday was nearly in full swing today. The stock market and indices saw springboard-like action and were strongly higher at the opening bell. Values continued to improve throughout the day and the DOW had nearly erased Monday's losses by 1:30 today. There was not much of a buzz in the grain sector with corn and soybeans giving back yesterday's gains. There continues to be a lack of threat to the U.S. crops. Moisture levels are ample across major production areas, demand is routine/slow, and the market is content with just watching the corn and soybean crops progress towards maturing while small grain harvests speed up. The weekly crop conditions report seems almost routine at this stage of 2024. Corn was down 1 point to 67% good/excellent and soybeans improved 1 point to 68% good/excellent.

7-day rainfall totals

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