News
The prospect of heavy rains over larger areas of the Corn Belt today depressed the crop markets overnight. Continued wholesale strength for beef and pork seemingly favor steady-firm livestock market openings.
Forecast rains over much of the Midwest seemed to sink soybean futures, whereas corn and wheat seemed to be competing for 2021-22 acreage. Beef values challenged the June high and seemingly boosting livestock prices.
Your Tour leaders share a midday update as they sample fields in Illinois and western Iowa.
Scouts on day two of Crop Tour found eye popping corn yields, significant rainfall is forecast for the northern plains and Biden’s approval rating plummets...
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Nebraska soybean pod counts down 5.5% from year-ago, rain needed soon; state’s estimated corn yield up over 4%.
Grain futures edged up in overnight trading, while soybeans continued the slide seen during Tuesday’s trading session. Surging beef prices seem likely to support cattle, while late pork losses bode ill for hogs.
My observations and comments from Day 2 of Crop Tour.
Day 2 Crop Tour results. Rain still in the forecast for the Northern Plains, Canada’s Prairies. China’s YTD grain imports up sharply from 2020. FOMC minutes due to with focus on tapering discussion.
Ear counts indicate bigger Nebraska, Indiana corn yields.
Mark’s comments and observations from Day 2 of Crop Tour.