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Tuesday, August 09, 2016

Wake Up Call Allendale Advisory Center

Wake Up Call Allendale Advisory Center: Grain markets are�lower�as trade estimates begin to circulate for Friday's USDA Supply and Demand report.

Corn was rated 74% good to excellent in yesterday's Crop Progress report. Analysts had been expecting a 75% rating. 53% of the crop was rated in the dough stage, while 9% was denting.

Soybean ratings came in at 72% GTE with 91% booming and 69% setting pods. The GTE rating was inline with estimates.

Spring wheat, which is now 30% harvested, was rated 68% GTE. The harvest estimate was a little better than analysts were expecting.