News
Rains fell over the Corn Belt though traders are focused on forecast dryness, Manchin caves on spending package and spring wheat yields continue to impress...
As of July 26, 68% of the U.S. was experiencing abnormal dryness/drought, down one percentage point from the previous week, but flash drought intensified over parts of the Great Plains, Ozarks, and Mississippi Valley.
Soybean futures climb to two-week high, corn firmer, on hot Midwest forecast; wheat also higher.
GDP fell 0.9% in 2Q, second straight decline and a strong recession signal
Weekly export sales this morning for week ended July 21 revealed a continued theme of sluggish new-crop corn and old-crop soybean sales. New crop soybean sales were the bright spot; well above expectations.
Corn and soybean futures were supported by followthrough buying overnight amid forecasts calling for hot and dry conditions next week, while wheat rebounded from Wednesday’s losses.
$20 bil. to support climate-smart ag practices; SAF tax credit of $1.25/gallon
Hurdles remain, including Sen. Sinema’s position and House Democrats
Cash soybean prices posted a big gain over the past week.
Soybean futures climb near four-week high on concern Midwest heat may curb yields; corn firm, wheat lower.