First Thing Today
Soybeans continued Monday’s rally overnight, corn is pressing into the upper end of the recent sideways range and wheat saw corrective buying off yesterday’s for-the-move low.
For the first time since the onset of the war, Moscow expanded their missile strikes to attack Danube River port infrastructure.
Following Russia’s threat of any ships heading to Ukrainian ports being regarded as military vessels, Ukraine released a similar warning for ships heading into Russian ports or Ukrainian areas occupied by Kremlin troops.
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.