SOYBEAN


OUTLOOK FOR THE USDA AUGUST SUPPLY/DEMAND REPORT


Given the weather forecast into early August, the expectation for an extended trade war with China, and the current condition of the US crop, it appears likely that the USDA supply/demand update on August 10 will carry a bearish tilt.


  and drawn out trade dispute, and this opens the door for another   


   Given the strong condition of the crop, the current yield forecast (and    





76 74 72 70 68 66 64 62 60 58 56


2018 2017 10 Year Avg


   reproductive period for the crop is the last week of   bushels per acre, then ending stocks could surge to    


For the upcoming report, the USDA is likely to raise their yield forecast somewhat but stop short of a  


 was showing similar conditions, the USDA increased  acre in the August supply/demand report. That was    


 the market’s oversold technical condition, and a continued advance into the August USDA supply/  be a selling opportunity. Close-in resistance for  


Source: USDA


30 | ADMISI - The Ghost In The Machine | July/August 2018


Percent


3 Jun 10 Jun 17 Jun 24 Jun 1 Jul 8 Jul 15 Jul 22 Jul 29 Jul 5 Aug 12 Aug 19 Aug 26 Aug 2 Sep 9 Sep 16 Sep 23 Sep 30 Sep 7 Oct 14 Oct


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