Grains:
– Corn carryout for 2024/25 estimated close to 2.3 billion bushels
– Soybean carryout for 2024/25 estimated around 530 million bushels, compared to USDA’s 560 million
– Wheat carryout for 2024/25 estimated around 800 million bushels, compared to USDA’s 828 million
– Fund short positions: Estimated Fund short positions: Estimated Fund short positions: 174,000 contracts in soybeans, 249,000 contracts in corn, 73,000 contracts in Chicago Wheat and 84,000 contracts in soybean oil.

-Pro Farmer Crop Tour starts this week

Cattle:
– Cattle slaughter on Friday was 118,000 head, up 12,000 from the previous week
– Year-to-date cattle slaughter is 872 million head behind last year
– Choice boxed beef price was $317.45, up $4.74 from the previous week
– Select boxed beef price was $302.59, up $2 from the previous week
– Cash cattle prices dropped $2-$3 per cwt, with Kansas at $184-$186 and Texas at $185

Other Commodities:
– Cocoa: December contract trading in a narrow range
– Coffee: December contract approaching last Monday’s 5-week high
– Cotton: Managed money traders reduced their net short to 49,004 contracts (estimated)
– Sugar: China imported 420,000 tons in July, almost 3 times the same period last year
– Crude Oil: US crude stocks near 5-year lows, US oil rigs down to 483 from 520 a year ago
– Natural Gas: EIA storage fell 6 bcf, first decline during summer months in at least 5 years

Disclaimer: The risk of loss in Commodity Interest trading is substantial. Past performance is not indicative of future results. Any content presented should be viewed as a solicitation and an inducement to conduct business with AgOptimus. The market information presented is believed to be accurate as of the time of publication. Trading and investment decisions should be made at your own risk and only with risk capital. Be advised the views and opinions expressed herein do not necessarily reflect the current views or positions of AgOptimus and are subject to change at any time.