News
Corn, soymeal hold strength into the close, soybeans, soy oil, and wheat end lower.
As of July 12, 69% of the U.S. was experiencing abnormal dryness/drought, according to the U.S. Drought Monitor, down one percentage point from the previous week.
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Resuming Ukrainian grain exports faces several hurdles, including what Putin says
Corn and wheat are expected to open firmer based on late strength overnight but buying may be limited given negative outside markets.
Export sales for the week ended July 8, 2022, shows larger than expected wheat exports, with soybeans falling short of expectations.
Overnight price action was two-sided and relatively quiet, though corn, soybeans and winter wheat all lower and near session lows this morning.
Corn and soybean basis are both well above their respective three-year averages.
Corn, soybeans attempt to add weather premium, wheat trades lower for third consecutive trading session.
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There was two-sided trade in grain and soy markets overnight, though outside markets have turned negative this morning.
Two-sided trade was seen in the grain and soy markets overnight, with corn and wheat firmer this morning while soybeans is modestly weaker.
World Weather Inc. says 2022 is closely tracking 1956, which turned into a good year for crops with some record yields despite hot, dry weather in the Plains and western areas of the Midwest.
USDA’s corn, soybean and wheat ending stocks forecasts topped pre-report expectations, as did the U.S. all-wheat crop estimate.
Markets continue downward trade on upward revisions in July WASDE.
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House Ag panel leaders want online feedback about 2018 Farm Bill and new farm bill
Grain/soy futures expected to open daytime trade sharply lower on followthrough from heavy selling overnight and negative outside markets.