After the Bell | July 23, 2021
Midwest rainfall prospects send grain futures lower for week, hogs at one-month high on firm pork.
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.
Monthly economic condition survey finds continuing strong growth in rural areas of the Midwest.
The National Weather Service's 30- and 90-day forecasts favor continued warm, dry weather for these areas.
The E.U. raises its soft wheat forecast, dryness in Brazil results in dredging on the Parana River and ASF continues to cause concern...
Advice to farmers on carbon credit trading: wait