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Mark Bernard’s Day 1 observations and comments from the eastern leg of Crop Tour.
Emily Carolan shares a recap of Day 1 of the Pro Farmer Crop Tour from the data bunker.
Spring wheat ratings held steady, with just 11% of the crop rated “good” or “excellent.”
The grain and cotton markets paused in the wake of last week’s big gains, while soybeans were supported by another daily export sales announcement. Livestock futures seemed to garner strength from discounts to cash
Tour leaders share preliminary comments and results from their routes through South Dakota, Nebraska, Indiana and Ohio.
The July crush came in nearly 4 million bu. lighter than analysts anticipated, with soyoil stocks unexpectedly climbing for the month.
USDA made some notable upside revisions to last week’s inspections number for corn and wheat.
Corn futures are under mild pressure as soybeans and wheat firm. Cattle futures are mixed with lean hogs mostly higher on the open.
Soybeans and wheat are expected to lead corn higher to start the week. Last week’s slippage in fed cattle values seem likely to offset bullishness powered by soaring wholesale prices.