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Corn, soybeans and winter wheat markets traded lower overnight, while spring wheat was mixed.
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Iowa and Nebraska led the CCI declines, while crops in Illinois improved.
Markets saw upside for the most part today, led by soybean strength. Wheat and cotton struggled to maintain spillover strength.
Soybeans showed relative strength overnight and carried corn futures higher into the break. Wheat futures continue to fall under pressure.
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Corn and soybean futures were supported overnight by crop concerns amid expectations for a poor finish to the growing season, while wheat futures slumped.
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Mixed action in the grains today with soybeans leading strength, corn closing roughly flat and wheat leading losses.
Pro Farmer estimates the U.S. corn crop at 14.960 billion bu. with an average yield of 172.0 bu. per acre. We estimate the U.S. soybean crop at 4.110 billion bu. with an average yield of 49.7 bu. per acre.
Soybeans continue to show relative strength with steady gains overnight, and corn futures saw strength into the break as well. Wheat futures traded higher overnight but still maintain a tight trading range.
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.
Scouts measured average corn yield potential of 181.34 bu. per acre. Pod counts in a 3’x3’ square averaged 984.39.
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Day 2 observations from eastern Crop Tour consultant Mark Bernard
Day 2 observations from eastern Crop Tour leader Brian Grete
Scouts measured average corn yield potential of 182.80 bu. per acre. Pod counts in a 3’x3’ square averaged 1,190.41.
Preliminary route reports from Brian Grete, Mark Bernard, Chip Flory and Brent Judisch on Day 4 of the Pro Farmer Crop Tour.