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Corn, soybeans gap higher overnight, surge after larger than expected crop ratings drop; wheat stronger.
Corn and soybean futures gapped higher overnight after USDA’s crop condition ratings dropped more than expected. Wheat futures followed to the upside.
Corn and soybean CCI ratings are below their respective five-year averages, while the spring wheat rating is still well above its average for the date.
Grain, soybean futures gain on concern over Ukraine shipments, return of Midwest heat next week.
USDA sees higher prices for 2023, but rate of increase to significantly decline
IMF update Tuesday, FOMC rate hike Wed., GDP report Thursday
Export inspections for week ended July 21, 2022 were within estimated ranges for corn, soybeans and wheat, however the current year’s pace continue to fall behind last year.
Grain futures are sharply higher to start the week. Cattle futures are under light pressure with lean hog futures under pressure despite gains in the cash market...
Grain futures expected higher on concern over Ukraine port attack, return of Midwest heat.
Yellen insists recession is avoidable as White House downplays GDP report Thursday
Grain and soy futures firmed overnight amid concerns about the deal to restart Ukraine’s grain exports and forecasts calling for a return of heat and dryness after some temporary relief.
Corn futures sink to six-month low on outlook for crop-aiding rain, less heat; wheat plunges on Ukraine deal.
Ukraine: Putin ‘spitting in the face’ of U.N., Turkey
Davis Michaelsen and Editor Brian Grete discuss this week’s market action...
USDA’s Cattle Inventory Report showed the U.S. cattle herd contracted 2.0% as of July 1. The Cattle on Feed Report showed the July 1 feedlot inventory up 0.4% from year-ago.
While record June beef stocks could imply sluggish demand, it may also be related to facilities building inventories due to ongoing strong exports. Pork stocks declined less than average last month.
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Russia agrees to not target grain shipment vessels, Huawei is once again under suspicion and foot and mouth disease detected in Australia...
Australia finds traces of FMD, ASF
Corn falls to six-month low overnight on favorable Midwest forecast; soybeans rebound, wheat lower.