Crop Tour Week! + Joe's 2023 Corn Sales

Grain Markets and Other Stuff

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0:00 Crop Tour Preview
2:37 The Funds
4:38 Joe's Old Crop Corn Sales
6:03 Summit Pipeline Resistance
7:18 EU Crop Problems
9:34 Jackson Hole / Economy
Here’s what’s coming up:
🚜 Pro Farmer Crop Tour: Kicking off this week, the Pro Farmer crop tour will start in Ohio and South Dakota, and then move through Illinois, Indiana, Iowa, Nebraska, and Minnesota. Expect state-by-state findings each evening, with final crop estimates released on Thursday night. This tour has been a staple since 1993. 🗺️
📉 Fund Traders' Positions: Fund traders are holding historically large net short positions across the grain complex. As of August 13, they were net sellers of 4k corn contracts and net buyers of 2k soybean contracts, with a net short of 155k in soybeans. 📊
🌍 Summit Carbon Pipeline: Facing pushback, Summit Carbon Solutions is hosting 23 public meetings in Iowa this week to address landowner concerns. Originally set to start this year, the pipeline’s operational date has been pushed to 2027 due to opposition and regulatory delays. 📉
🌾 EU Wheat Crop Concerns: Poor weather has hit wheat crops hard in the EU. France’s soft wheat crop is projected to be the worst since the 1980s, while Germany’s is also expected to be the worst since 2018. Rain has caused significant setbacks in both countries. 🌧️
🏛️ Fed Chair Jerome Powell at Jackson Hole: Powell is set to speak at Jackson Hole this week, where he's expected to confirm a September rate cut. Following positive CPI and PPI reports, a quarter-point cut seems likely. Keep an eye out for any hints about future rate changes. 📉
Stay tuned for updates from the crop tour and Powell's speech—both could shake things up! 🌟