First Thing Today
Corn futures saw some slight pressure overnight while soybeans continue to show relative strength. Wheat futures showed moderate strength as well, led by the HRW and HRS contracts.
Corn, soybean and wheat futures traded solidly higher overnight on support from Russia halting the Black Sea grain deal and weather concerns.
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.