HIGHLIGHTS
· MARKET TREND—A little firmer: CU: up $.0025; SU: up $.0175; WU: up $.0125; KWU: up $.0150
· MACRO: The terrorist attach in Barcelona and continued concerns with the state of the U.S. White House have the markets on. ASIA—Mostly weaker: Nikkei, -1.18%; Shanghai, +0.02%; Hang Seng, -1.08. EUROPE: Lower: DAX,-0.60%; FTSE, -0.87%; CAC, -1.00%. WALL STREET—Futures are mixed—DOW, -11; S&P, -0.75; NAS, +4.75. EXTERNALS: $ Index: -.094 @ 93.440; Sep Gold: +$8.900 @ $1,296; Oct crude: +$.15 @ $47.39/bl.
· T-storm Weather: Isolated thunderstorms occur throughtonight in the eastern Plains & Corn Belt, but well-organized rain is not expected. Scattered thunderstorms follow Sundaynight through Tuesday when a strong system & cool front pass; coverage & amounts will take time to determine, but 0.40" to 0.80" amounts remain reasonable for now with highest coverage in/near Iowa. Temps turn much warmer through early next week, but the strong cool front returns readings to below-normal levels Tue.-Wed.
· CU, up $.0025 @ $3.5075; CZ, steady @ $3.6425. The funds sold 5 K yesterday
· SU, up $.0175 @ $9.32; SX, up $.0150 @ $9.3450. Funds: Bought 4 SB, 2 SBM, 3 SBO. Board crush: $.86, -2; LY, $.80
· WU, up $.0125 @ $4.1525; WZ, up $.0150 @ $4.4225. Fund activity: sold 5 K
CORN/SORGHUM
· T-storm Weather: Above-normal temps affect central U.S. corn through Monday., as highs reach the 80s-90s and lows hold in the 60s-70s (warmest from Nebraska south), breaking the sustained period of coolness that began July 27
· ATI Research: Combined unshipped export sales of U.S. old-crop and new-crop corn as of Aug. 10 stood at 363 mbu, which is down 45% from 664 mbu at this time a year ago
· December 2017 corn futures on Thu. closed at $3.64 ¼; one year ago, December 2016 corn futures settled at $3.42
· Consultant: Frost & quality issues with Brazil’s safrinha(double crop) corn may keep final output below USDA forecast
SOYBEANS/WHEAT
· T-storm Weather: The location of coolness next week for U.S. soybeans is important, as dry weather occurs near its core, while heavy thunderstorms occur to its south. The most likely area for rain is in the central and southern Plains
· ATI Research: Combined unshipped export sales of U.S. old-crop and new-crop soybeans as of Aug. 10 stood at 479 mbu, which is down 35% from 740 mbu this time a year ago
· CBT Sept. 2017 wheat futures on Thu. closed at $4.14—the lowest closing price for nearby CBT futures since April 27
· ATI Research: Unshipped export sales of U.S. all wheat as of Aug. 10 stood at 192 mbu, which is 14% lower from 225 mbu this time a year ago. Largest declines by class are being seen for HRW (-29%) and HRS (-28%); SRW is down 2%
ENERGY
· Firmer: CLV17, +$0.15 @ $47.39; EBV, +$0.12 @ $51.15;EBV-QCLV, -.03; RBU, +.0108; NGU, -.018; HOU, +.0033
· A weaker tone was again noted in the cash markets: Chicago down 2 ½ @ $1.51 3/8; New York off 2 1/8; the Gulf fell 2 1?2; Tampa and LA were both $.01 lower at $1.7150 and $1.71; Dallas was off 1 ½ to $1.5950
· Ethanol RINs were eased lower yesterday with both 2016’s and 2017’s off 1 ¼ to a 87 ½ to 89 range
· The Sep RBOB/Sep ethanol spread surged $.0441 to+$.0769/gallon on Thursday
LIVESTOCK/POULTRY  
·   Choice boxed beef values fell $1.88 on Thursday to $195.63, and are $5.00 lower compared to a week ago
· Dressed steer weight for week end Aug. 5: 880 lbs, up 5 lbs v. last week, 868.5 for 4-week avg. and 886 last year
· USDA mandatory pork carcass cutout value eased 4-cents on Thursday to $91.13, and is down $3.59 vs. last week
· CME Lean Hog Index declined $0.33 on Thu. to $83.70. October futures fell $1.85, and are $16.775 below the index
Sources: Bloomberg, Dow Jones, AP, DTN, T-storm Weather