News
Evening weather update calls for less Midwest rain. French wheat crop ratings dip again, with heavy rains eroding crop prospects. Chinese soybean imports could slow 2H of 2021. Taper talk at the Fed.
After the Bell | July 22, 2021 Grain, soy futures tumble amid profit-taking, soft exports, hog futures fade from five-week high.
Frozen beef stocks dropped 4.3% during June whereas they typically hold near steady for the period.
Cash prices generally strengthened for grains, soybeans.
“Active weather prevailed across much of the South, East, and Midwest, as well as parts of the Plains, into the middle of July, followed by a southward shift in widespread shower activity,” today’s report says.
Senate GOP votes are in place next week to clear traditional infrastructure bill
Ahead of the Open | July 22, 2021 Grain futures slump in overnight sell-off, soybeans at one-week low.
On the other hand, wheat sales climbed in the face of rising futures prices, with USDA also reporting a small but unexpected sale for 2022-23.
Profit-taking overnight. Industry still trying to get a handle on Canada’s wheat and canola crops. Central China is dealing with floods. FTC adopts policy statement to take on ‘right to repair.’
Corn and soybean basis remain much stronger than normal.
After the Bell | July 21, 2021 Hot, dry Midwest outlook boosts new-crop corn, soybean futures, winter wheat hits two-month highs.
Given last year’s pandemic-related disruptions to the cattle herd, the data could receive more market attention than it typically does, with traders likely to take particular note of USDA’s calf crop estimate.
On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.324 million head of cattle on feed as of July 1, down 1% from year-ago levels.
Vilsack says more aid coming | Slim odds for axing corn-ethanol mandate
Ahead of the Open | July 21, 2021 Grain, soybean futures mostly higher as Midwest, Plains dryness trims crop potential.
A high pressure ridge could lead to more drying in western Corn Belt, Northern Plains. USDA isn’t the only one missing the mark on Canada’s wheat crop. Odds are low for a proposed bill to end corn-ethanol mandate.
After the Bell | July 20, 2021 Weather concerns push grain and soybean futures higher, hog futures up on strong pork market.
The Biden administration has delayed its annual rulemaking process regarding its biofuel blending mandates under the Renewable Fuel Standard (RFS) for 2021 (2022 for biodiesel), Reuters says in an exclusive report.
Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.
USDA nearing $7.4 billion in Biden admin.-issued pandemic aid