Highlights
The USDA reported the crush numbers for July:
Soybean crush in July was 193 million bushels, 8 million bushels more (4.3%) than a year ago.
Corn crush was 527 million bushels, 4% more than a year ago.
Corn for ethanol was 474 million bushels, also 4% more than a year ago.
Canola crush was 230,516 tons, 10.1% more than a year ago.
Cottonseed once refined was 32.8 million pounds, 27% more than a year.
USDA will issue the next S&D on Thursday, 12 September. Traders will expect bearish news and markets will sell-off later this week or the first couple days next week, stabilize on Tuesday afternoon or Wednesday and probably recover a bit before Thursday’s report at 11 AM Central.
If you are looking for a place to buy corn, beans, or wheat, wait until Tuesday afternoon to Thursday morning next week.
This is the time of year when wheat futures usually make their lows for the year. We had recommended in May contracting 2025 wheat on an HTA. If you did that, you have $1 to $1.50 profit. We highly recommend you lock-in that profit by doing one of the following next week:
1. Tell your merchandiser to lift his hedge on your HTA contract. All that means is he will buy futures contracts to off-set the sold (short) futures contracts. Example: