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Gary's Blog 09/08/26 1:05:22 PM
9-8-26
The market is in corrective mode as traders consolidated coming out of the holiday weekend. Pre report position squaring is also noted with the all-important Sep crop report just 3 days away. StoneX will take another shot at corn/bean yield estimate this afternoon. Many in the industry believe a 176-77 type yield number is being penciled in. Early harvest reports are disappointing with below APH yields common place. Funds are holding record long positions in corn with over 400k contracts being published on Fridays CFTC report. Crop ratings look to hold steady to slightly lower tonight. (although waning with importance)
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