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Export inspections of corn, soybeans and wheat were all in line with expectations, with the corn tally holding above 1 MMT and wheat inspections nearing 500,000 MT. Soybean futures were light, as expected.
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Spring wheat futures exploded overnight amid U.S. and Canadian crop woes. USDA announced a daily SRW sale to China this morning.
Extreme heat coming for spring wheat country. Brazil’s corn contract washouts could be the highest since 2016. Xi raises food security to national security concern. Germany confirms its first cases of ASF in farm pigs.
Some profit-taking moved into the corn and soybean markets, while spring wheat continues to rally, pulling winter wheat futures higher in the process. Cattle and hog futures saw a choppy day of trade.
The data signals USDA is likely too high with its soy crush forecast.
World Weather Inc. forecasts an active near-term weather pattern for the Midwest, inflation accelerated in June and a new bipartisan push to open Cuba to U.S. agriculture arises...
Monthly economic condition survey finds continuing strong growth in rural areas of the Midwest.
The central and eastern Corn Belt was a battleground of sorts, with some locations seeing improvement with this week’s heavy rainfall, while other locations missed out,” today’s Drought Summary said.
The National Weather Service’s 30- and 90-day forecasts favor continued warm, dry weather for these areas.