Cedar Rapids Mill

For the most up to date grain bids and hours visit Cargillag.com or call 1-800-515-1105 and the afterhours bid line 1-800-223-5540.

Market Commentary 08/05/22

By Daniel Elsner

Weather and the WASDE are on everyone’s mind going into next week. Corn is currently caught between two trendlines and I think the WASDE report will be the catalyst traders need to decide which way they want to take this market, so expect volatility with the WASDE report next Friday. The Sep-Dec spread which we saw growing completely vanished today and re-inverted, a sign that people want grain now. We are looking at 100+ degrees over the weekend with a chance of some rain. Least to say that weather is a swing factor here, but the market seems to think this crop will continue to hurt. In outside markets treasury yields rose on an incredibly strong job report as it gives the Fed the green light to continue raising rates. Countries will continue to see strong biofuel demand increase due to both climate goals and the need for alternate fuel sources, a bullish sign for agriculture. Have a great weekend and stay cool!

This communication has been prepared by Cargill, Incorporated.  The information in this communication does not constitute “investment service,” “investment advice,” or “financial product advice” as defined by laws and/or regulations in any jurisdiction, and the contents of this communication should not be construed as investment, legal or tax advice.  Each person should seek independent investment, legal and tax advice concerning the consequence of entering any transaction.