First Thing Today
This morning report highlights the overnight trading session and key domestic and global developments impacting markets.
Wheat futures firmed overnight, while soybeans faced mild selling pressure and corn was caught in the middle.
Crop Tour estimates Iowa corn yield, soybean pod counts below last year’s levels; Minnesota corn yield higher.
Illinois, western Iowa corn yield estimates down from last year, Crop Tour finds; Illinois pod counts better.
Crop Tour scouts report lower numbers for Indiana, Nebraska; Illinois, Iowa, Minnesota ahead today.
Scouts head through Indiana, Illinois, Nebraska on Day 2 of Pro Farmer Crop Tour after finding subpar yields in S. Dakota.
First Thing Today | August 22, 2022 Soybean futures post corrective gains overnight as market awaits Pro Farmer Crop Tour reports.
Grain futures rebound from sharp losses, big banks pass Fed stress tests, U.S. beef supplies up sharply.
Corn and wheat futures extended Tuesday’s losses overnight, while the soybean market traded mixed.
Wheat futures faced heavy price pressure overnight, which pulled corn lower. Soybeans are mixed following two-sided trade overnight.
Indonesian officials clarify palm oil export ban
Chinese central bank governor stresses price stability
Soybeans were also slightly lower overnight, pulling back from Tuesday’s gains.
A mildly weaker tone has developed this morning after quiet trade overnight.
Soybeans, along with soyoil, led price strength in the grain and soy complex overnight.
Grain and soy futures found followthrough buying overnight, supported in part by outside markets.
Soybeans pulled back overnight from the corrective gains late last week. Corn and wheat didn’t stray far from unchanged.
Corn, soybean and winter wheat futures extended Thursday’s corrective gains overnight, while HRS futures posted new contract highs for the sixth time in the last eight trading sessions.
China raises minimum purchasing price for wheat for first time since 2014. Attaché lowers forecast for Argentine soybean plantings. Is inflation transitory or structural? UAW has called a strike against Deere & Co.
Chinese bean buying slows in September. Certified acreage data release delayed. Americans quit their jobs at a record clip in August. Atlanta Fed chief says U.S. jobs slowdown should not derail taper timeline.