Note: This week is our annual Crop Tour. Look for daily updates from crop scouts and state results each evening at 8:00 p.m. CT. Our final yields will be released on Friday, Aug. 21 at 1:30 p.m. CT. We will produce our daily newsletters, though our “Crops Analysis” and “Livestock Analysis” will be replaced with an extended version of “After the Bell” this week.
Corn is mostly unchanged to a penny higher at midmorning.
- Corn futures are modestly firmer but remain technically strapped.
- Scouts will be sampling corn and soybean fields across the seven Crop Tour states over the next four days. Follow along with updates on our website and by searching #pftour25 on X (formerly Twitter). Scouts on the eastern leg of the tour are making their way today from Dublin, Ohio to Noblesville, Indiana. Those on the western leg are scouting fields between Sioux Falls, South Dakota, and Grand Island, Nebraska.
- USDA reported daily sales of 124,000 MT of corn to unknown destinations during 2025-26.
- USDA reported weekly export inspections of 1.05 MMT (41.4 million bu.) for the week ended Aug. 14, down 471,846 MT from the previous week and near the low-end of the pre-report range of 1.0 MMT to 1.45 MMT.
- December corn futures are trading within the 20- and 10-day moving averages of $4.08 1/4 and $40.2 1/4.
Soybeans are mostly unchanged to a penny higher, while soymeal is around $2.90 lower. Soyoil is around 15 points higher.
- Soybean futures are chopping around unchanged as resistance stems from last week’s high.
- USDA reported weekly export inspections of 473,605 MT (17.4 million bu.) for the week ended Aug. 14, down 70,641 MT from the previous week but within the pre-report range of 200,000 to 730,000 MT.
- Discussions on a proposed U.S.-India trade deal have been delayed after a planned visit by U.S. negotiators to New Delhi on August 25–29 was called off, according to Reuters. The move dashed hopes of easing new U.S. tariffs on Indian goods set to take effect August 27. The U.S. embassy reportedly said it had no further details, noting that talks are led by the U.S. Trade Representative.
- November soybeans are facing resistance at $10.48 1/2, which is backed by the June 20 high of $10.74 1/4. Initial support lies at $10.37 1/2 and $10.31 1/2.
Wheat futures are mostly a penny to 5 cents higher.
- SRW wheat futures are trading lower in consolidative trade, with a firmer U.S. dollar pressuring prices.
- USDA reported weekly export inspections of 395,240 MT (14.5 million bu.) for the week ended Aug. 14, down 19,625 MT from the previous week and near the low-end of pre-report expectations ranging from 350,000 to 600,000 MT.
- Russia’s IKAR consultancy raised its 2025 wheat crop forecast to 85.5 MMT earlier today, up from the previous estimate of 84.5 MMT. This marked the second upward revision this month.
- December SRW futures are up against resistance at the 10-day moving average of $5.29 1/2, while support lies at last week’s low of $5.21 1/2.
Live cattle and feeders are posting gains at midsession.
- Nearby live cattle are firmer amid strong wholesale support.
- Wholesale beef prices notched strong gains on Friday, with Choice up $6.78 to $400.57, while Select rose $3.88 to $370.76. Movement totaled 104 loads.
- The feeder cattle index continues to hover around the all-time-high of $346.01.
- October live cattle are trading within Friday’s upper range, with resistance stemming from the Aug. 7 high of $232.75, while support lies at the 10- and 20-day moving averages of $228.73 and $226.46.
Hog futures are firmer at midmorning.
- August lean hogs are posting gains, though technical resistance is curbing buyer interest.
- The pork cutout value rose $1.22 on Friday to $116.40, with gains in all cuts aside from primal picnics and bellies. Movement was strong at 403.3 loads.
- The CME lean hog index is up 5 cents to $109.80 as of Aug. 14.
- October lean hogs are holding an inside range, as the 20-, 10- and 40-day moving averages of $90.65, $91.06 and $91.61 continue to serve as resistance, while support is layered at $89.13 and $88.17.