Agriculture News
World Weather Inc. says 2022 is closely tracking 1956, which turned into a good year for crops with some record yields despite hot, dry weather in the Plains and western areas of the Midwest.
USDA’s corn, soybean and wheat ending stocks forecasts topped pre-report expectations, as did the U.S. all-wheat crop estimate.
Markets continue downward trade on upward revisions in July WASDE.
Grain/soy futures expected to open daytime trade sharply lower on followthrough from heavy selling overnight and negative outside markets.
Corn, soybean and wheat futures faced heavy pressure overnight after initially trying to work to the upside.
The corn and soybean crops posted modest gains, while spring wheat improved notably.
Outside markets influenced grain and livestock markets to varying degrees in volatile trade to open the week.
Soybean export inspections fell shy of expectations.
USDA will update balance sheets to reflect June 1 stocks and its new-crop planted acreage estimates. USDA will also release its first all-wheat production estimate.