Wake Up Call Allendale Advisory Center: Grain markets are higher led by the soybean complex. Chinese demand is the key driver as soybean sales continue to grow. Wheat gets help from large fund shorts. Outside markets are higher as traders start the week with a risk on attitude.
The week ahead will have traders watching the weather forecasts however the hot dry window is closing and of course we’ll be waiting for talk of frost. This week traders will be adjusting positions ahead of the August USDA Supply and Demand report.
Analyst estimates on corn and soybean yields will be bountiful this week. Informa’s numbers released late last week was a bit smaller than trade was hoping.