HIGHLIGHTS

·       TRENDS—Mixed: CU, unch; SU, -$.02; WU, +$.0125; KWU, +$.0150.  Del’y: SBM, 286; SBO, 0; Ethanol, 0

·       What caught my eye:  SBM export interest . . . in part due to the Philippines but quite good with 4-wk sales average at 7 year seasonal high; recent exports 11% above average and unshipped old crop sales up 3% year to year

·       Trump signs executive order barring U.S. citizens from making transactions with China-based WeChat and TikTok for 45 days

• Asia—Lower:  Nikkei, -0.39%; Shanghai, -0.96%; Hang Seng, -1.60%;
• EUROPE: Lower—DAX, -0.17%; FTSE, -0.19%; CAC, -0.55%. 
• WALL STREET: Futures, lower --DOW, -136; S&P, +-16.5; NAS, -53
• EXTERNALS: Oct crude, -$0.37 @ $41.83; Gold: unch @ $2,069; Sep $ Index, +.382 @ 93.150

·       T-storm Weather®: intense coolness breaks from west to east through the weekend across the U.S. Corn Belt, with temps returning to slightly above-normal levels with highs in the 80s-90s & lows in the 60s-70.  Mostly minor showers & thunderstorms occur in western areas through today as warmth expands, then a couple larger clusters form this weekend within the western two-thirds of the Corn Belt & Plains.  Thunderstorms then affect a wider area next week as a cool front passes & dissipates

• CU, unch @ $3.1125; CZ, unch @ $3.2375.  Funds were even in a quiet, two-sided day of trading                                      ​ 
• SU, dn $.02 @ $8.7275; SX, dn $.0225 @ $8.7575.  Funds: Sold 3 SB, 3 SBM, bot 2 SBO.  Board crush: $0.85 (U/U), -3; LY, $1.03
• WU, up $.0125 @ $5.0250; WZ, up $.0150 @ $5.0975.  The funds sold 7 K, mostly due to favorable Australian weather forecasts               

CORN/SORGHUM

·       T-storm Weather®: a drier period with above-normal temps likely impacts U.S. Corn Belt over Aug. 14-20, as upper & surface-level high pressure diminish upper-level winds & low-level humidities necessary for well-organized rains

·       Combined old and new-crop unshipped U.S. corn export sales as of July 30 were 631 mbu, which is 119% higher compared to 288 mbu last year and 3% higher versus 612 mbu two years ago

·       ATI Research: U.S. corn dough progress on average increases approximately 19% from Aug. 2-9

·       T-storm Weather®: mainly dry and very warm weather occurs across corn over the next 5-7 days in Ukraine

SOYBEANS/WHEAT

·       T-storm Weather®: a drier period with above-normal temps likely impacts U.S. Corn Belt over Aug. 14-20, as upper & surface-level high pressure diminish upper-level winds & low-level humidities necessary for well-organized rains

·       ATI Research: combined old and new-crop unshipped U.S. soybean export sales as of July 30 were 813 mbu—a record for this time of year.  First quarter (Sep-Nov) exports are forecast at 817 mbu, a near-200 mbu increase from last year

·       ATI Research: unshipped U.S. HRW wheat export sales as of July 30 were 64 mbu—the 2^nd highest total in 6 years

·       T-storm Weather®: numerous rains into mid-Aug. leave Australia wheat wetter than last two drought-afflicted years 

ENERGY

·       Mixed:  CLV20, -$0.37 @ $41.83; EBV, -$0.33 @ $44.76; EBV-QCLV, +0.05; RBV, -.0060; NGV, +.024; HOV, -.0089

·       Chicago ethanol was a $.0225 cent higher at $1.1875; basis, mixed: NYC,+$.0275 @ +$.1225; Gulf, unch @ +$.10; Dallas, -$.0275 @ +$.0775; Tampa, -$.0350 @ +$.19; LA, -$.0225 @ +$.2025

·       Ethanol RIN values, lower: 2019’s, -2.00 @ 40-41; 2020’s: -1.50 @ 43 -44                                                  &nbs​p;                        ​;                        ​                        &​nbsp;                       &n​bsp;   

·       The Sep RBOB/August ethanol spread is at $.0296, down $.0366 this morning, premium RBOB

LIVESTOCK/POULTRY                                   ​    ​

• Choice boxed beef increased $1.09 on Thursday to $204.66, and is $2.86 higher compared to last week 
• Some northern dressed cattle traded mostly for $163 on Thursday, $3.00 higher than last week's weighted average
• The mandatory pork carcass cutout value was $3.49 higher on Thu. at $69.96, and is up $2.79 versus a week ago
• CME Lean Hog Index fell $0.14 on Thu. to $52.78.  August futures firmed $0.325 but remain $3.03 below the index

Sources: Bloomberg, Dow Jones, AP, DTN, T-storm Weather®