Evening Report
Spring Wheat and soybean conditions decline as wheat harvest advances…
Odds of passing a new farm bill by the end of September when current legislation expires appear low.
Extended forecast calls for above-normal temps and varied rainfall chances through October.
Markets reacted sharply to reports of Trump potentially ousting Powell and then his denial.
An analysis from former USDA Chief Economist Dr. Joe Glauber
Corn conditions were unchanged, while the soybean, spring wheat and cotton crops improved.
Post-report price action signals traders feel USDA’s corn yield projection of 181 bu. per acre will be increased when the agency releases its first survey-based estimate in August.
ENSO-neutral conditions likely to persist.
The latest letters were sent to six countries, which are relatively minor trading partners.