News
Based on the Drought Monitor, USDA estimates the drought footprint at 31% for corn acres, 28% for soybeans, 17% for spring wheat and 65% for cotton.
Grain, soybean futures extend sharp declines as USDA reports stronger than expected crop ratings.
Turkey expects Ukrainian grain to continue to move, Pelosi will visit Taiwan and OPEC+ will hold its regular meeting this week...
USDA’s Bonnie: Opportunity for U.S. agriculture to be ‘hero’ on climate change
Grain, soybean futures extend Monday’s declines following stronger than expected USDA crop ratings.
Soybeans fell below Monday’s lows overnight, while corn held that support and wheat pivoted around yesterday’s lows.
The corn CCI rating slipped despite the unchanged good/excellent national ratings, as Iowa and Nebraska both declined.
Soybean futures tumble nearly 60 cents, corn and wheat also lower after grain ship departs Ukraine.
USDA reported weekly inspections as of July 28, revealing increases in corn and soybean inspections on the week, as wheat fell behind by over 200,000 MT. Corn, soybeans, wheat continue to lag behind year-ago paces.
Grain and soy futures are under hefty price pressure this morning. Cattle futures are higher with lean hogs under light pressure.
Corn, soybean, wheat futures expected lower as first grain shipment out of Ukraine boosts supply hopes.