The expectation for a record corn yield was tempered this week as reports of overly tight tassel wrap and heat indices pushing higher caused concern for crop conditions (see News page 4), which remained at multi-year highs in corn at the beginning of the week. The extended forecast calls for more moderate, seasonal temps but heavy rainfall is expected to hit the Midwest, potentially causing localized flooding. The cooler forecast is expected to build a high pressure ridge which will be strong enough to suppress rainfall in the latter half of the forecast window, eventually inducing hotter temps. Export demand picked up in corn and remains persistent in both soybeans and wheat. Countries have been quick to attempt to build trade deals and increase purchases of U.S. goods ahead of Trump’s Aug. 1 deadline. We cover all of these items and much more in this week’s newsletter.
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