$.0050; KWU, unch
What caught my eye: Bean demand returning to the U.S.? Yesterday’s 42.6 mbu total was nearly 20 million MORE than the 2018 figure and the latest 4-week average is up nearly 45% year to year. Pro Farmer sees OH corn yields down 14%; SD, -30%
· Fed Minutes out Wednesday; trade concerns linger; WH: ‘tremendously well” . ASIA: Mostly weaker-Nikkei, +0.55%; Shanghai, -0.11%; Hang Seng, -0.23%. EUROPE: Firm—DAX, +0.05%; FTSE, +0.36%; CAC, +0.19%. WALL STREET—Futures are slightly firm-- DOW, +1; S&P, +1.50; NAS, +9.00. EXTERNALS: Oct crude:+$0.03 @ $56.17; Gold: -$14.30 @ $1,509; $ Index: +.002 @ 98.349
· T-storm Weather®: For U.S. corn and soybeans, temps fluctuate every few days, but average near normal over the next two weeks. Scattered thunderstorms affect varying areas at varying times, especially within the southwest half of the growing belt where 0.50”-1.50” is probable through Friday, and then the northwest half next week. Some more rain would be ideal in parts of IL, IN, and IA, but coverages of 14- and 30-day dryness on U.S. corn and soybean production are low and normal for mid-August
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CU, up $.03 @ $3.68; CZ, up $.03 @ $3.7725. Good weekend rains in parts of the central belt precipitated 10 K in selling
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SU, up $.0550 @ $8.6950; SX, up $.06 @ $8.7250 Funds: Sold 7 SB, 4 K SBM, 7 K SBO. Board Crush: $1.04, +2; LY, $1.54
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WU, up $.0050 @ $4.66; WZ, up $.0025 @ $4.73. The funds sold 3 K to begin the week
CORN/SORGHUM
· U.S. corn crop is rated 56% Good/Excellent, down one point versus last week and well below 68% last year. Dough is 55% vs. 83% last year and the 5-year average of 76%. Dented is 15% vs. 41% last year and the 5-year average of 30%
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T-storm Weather®: Regarding rainfall through Friday, 0.50” to 1.50” affects the southwest half of U.S. corn, while less to much-less occurs to the immediate north
· ATI Research: Updated yield estimate for the 2019 U.S. corn crop is 167.2 bpa versus August USDA projection of 169.5
· U.S. sorghum crop is rated 65% Good/Excellent versus 66% last week but well above 49% last year
SOYBEANS/WHEAT
· U.S. soybean crop is rated 53% Good/Excellent versus 54% last week and 65% last year. Blooming: 90% vs. 99% last year and the avg. of 96%; Setting Pods: 68% vs. 90% last year & the 5-year avg of 85%
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T-storm Weather®: Regarding rainfall through Friday, 0.50” to 1.50” affects the southwest half of U.S. soybeans, while less to much-less occurs to the immediate north
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ATI Research: U.S. all wheat exports are forecast to range from 20-25 mbu per week short-term
· T-storm Weather®: Drought further intensifies in eastern Australia near-term, but not significant in Western Australia
ENERGY
· Firm: CLV19, +$0.03 @ $56.17; EBV, +$0.02 @ $59.76; EBV-QCLV, -.010; RBV,+.0011; NGV, -.013; HOV, +.0033
· Chicago ethanol lost $.0175 on Monday, easing to $1.2945; basis values were weaker: NYC, -$.0025 @ $.1205; Gulf, -$.0125 @ $.08050; Dallas, -$.0175 @ $.1305; Tampa, -$.0075 @ $.2405; LA, -$.0025 @ $.2355
· Ethanol RINs found 2018’s unchanged at @ 3 ½- 4 and 2019’s down $.3750 @ 10 ¼ -10 ½      
·   The September RBOB/September ethanol spread widened $.0196 on Monday, to $.3734/gallon
LIVESTOCK/POULTRY    
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Choice boxed beef increased 44-cents on Monday to $239.13 and is $20.51 higher versus last week
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5-Area Weekly Weighted Average Steer price fell $5.69. last week to $106.68/cwt and is $3.23 lower v. last year
· USDA mandatory pork carcass cutout value declined $1.59 on Monday to $83.29 and is $5.69 lower vs. a week ago
· Current nearby board hog crush value is $42.44/cwt vs. last week’s $42.04, last month’s $41.33 & last year’s $27.30
Sources: Bloomberg, Dow Jones, AP, DTN, T-storm Weather
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