Traders Eye NOPA Crush

In the overnight session the grains moved higher with corn up 2 ¾ cents, soybeans up 2 ½ cents and wheat up 1 ¼ cents this morning. The U.S. dollar is relatively quiet but the Russian Rouble touched a 6 month low against the dollar today and crude oil is down 65 cents this morning. This morning a group of Israeli private buyers purchased 110,000 metric tons of corn to be sourced from optional origins.

NOPA crush numbers are scheduled for release today at 11 AM CST. The average analyst guess for July crush is 141.175 million bushels. Last year July crush was reported at 119.620 million bushels and the four year average for crush in July is 124.094 million bushels. The average soyoil stocks are expected to be 1.592 billion pounds.

今天早上美元A released the total number of acres that went to “prevent plant” this year. According to the report 2.301 million acres of corn, 2.173 million acres of soybeans and .693 million acres of wheat were reported as of August 3rd.

The annual pro farmer tour kicked off today and will run through the 20th. The tour will have two legs which will include the Eastern tour and the Western Tour. The eastern tour will wrap up the first day Fishers, IN while the western tour will stop at Grand Island, NE. On Thursday August 20th the two groups will meet in Rochester, MN.

—Cody Bills