The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
China remains on holiday so there is very little news on that front. Traders here at home will be waiting to see the latest Informa numbers, expected to be released this morning at around 10:30am CST. I am hearing we will see their final wheat production numbers for 2013, and may also see their updated corn and soy acreage estimates. Keep in mind "acreage" has been very heavily debated as of late so this could be very influential data. My gut says as long we keep trading US "production," and some of the yield reports continue to show surprises to the upside, we need to keep our hedges in place in expectation of additional downhill pressure. Lets also not forget, after the close, the USDA will release its Sept "Cattle-on-Feed" report. Most seem to be expecting an "On Feed" number between 93-96% of a year earlier. Aug "placements" and "marketings" could be a real wild-card.
Click here for my free daily report
No comments have been posted to this Blog Post