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Ahead of the Open | July 20, 2021 Grain, soybean futures expected to open higher following lackluster USDA crop ratings.
Grain and soy futures rallied overnight amid a concerning forecast for some areas and lower-than-expected corn and spring wheat condition ratings.
Find highlights from today’s Crop Progress and Condition Report.
The spring wheat CCI rating is now 38.1% below the five-year average for this date.
After the Bell | July 19, 2021 Wheat futures extend gains as crop bakes in Northern Plains heat, corn and soybeans little-changed to lower.
Pro Farmer Washington Analyst Jim Wiesemeyer and host Chip Flory discuss the highlights of last week in D.C.
Export inspections of corn, soybeans and wheat were all in line with expectations, with the corn tally holding above 1 MMT and wheat inspections nearing 500,000 MT. Soybean futures were light, as expected.
Corn and wheat futures are higher with weakness in the soy oil market limiting buyer interest in soybeans. Cattle futures are under pressure with lean hogs mixed.
Ahead of the Open | July 19, 2021 Grain, soybean futures expected to open higher on dryness concerns.
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Spring wheat still soaring amid weather woes, with the warm dry forecast for the western Corn Belt concerning. China’s grain imports are still soaring. Its Sichuan province reported ASF in illegally transported piglets
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Weather will be the focal point next week as heat is expected to build, especially in the northwestern Corn Belt, where extreme temps are likely. Wheat has taken on a rare summer leadership role.
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Spring wheat futures exploded overnight amid U.S. and Canadian crop woes. USDA announced a daily SRW sale to China this morning.
Extreme heat coming for spring wheat country. Brazil’s corn contract washouts could be the highest since 2016. Xi raises food security to national security concern. Germany confirms its first cases of ASF in farm pigs.
Some profit-taking moved into the corn and soybean markets, while spring wheat continues to rally, pulling winter wheat futures higher in the process. Cattle and hog futures saw a choppy day of trade.