Tuesday, July 16, 2019 11:50AM CDT
Some view the need for upgraded flood control to improve climate resiliency while others see a need to refocus the U.S. Army Corps of Engineers more on flood control and less on environmental rehabilitation. Either way, a retired Corps commander said the Midwest needs a comprehensive strategy to look at long-term infrastructure needs.
Tuesday, July 16, 2019 11:45AM CDT
Just as parts of the Lower Mississippi River were showing signs of flood recovery, Category 1 Hurricane Barry made landfall in Louisiana on July 13. Later that day it weakened to a Tropical Storm as it moved inland and became a tropical depression on Sunday afternoon, July 14.
Tuesday, July 16, 2019 8:59AM CDT
Corn silking was at 17% as of Sunday, July 14, far behind the five-year average of 42%, and the crop was rated 58% in good-to-excellent condition, up slightly from 57% the previous week.
December corn is down 2 3/4 cents per bushel, November soybeans are down 1/2 cents, and September K.C. wheat is down 5 1/2 cents.
Technical traders may feel the live cattle market may be poised to see further losses as the market corrects from its overbought status. Without cash being tested yet this week, futures seem to be unwilling to add further price premium. The upcoming Cattle on Feed report may also keep market volatility to a minimum as traders positions themselves ahead of the report. Hog futures showed a surprising divergence between August and October as spread trading continued.