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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.
Stream our nightly Crop Tour meetings here. The video begins at 7:00 p.m. CT.
Get preliminary updates from Tour leaders as they make their way through Nebraska, Indiana and Illinois.
Big wheat losses weighed on corn and soybeans Tuesday, eventually reversing early bean gains tied to announced daily sales. Livestock futures set back on concerns about wholesale strength translating to cash markets.