Pro Farmer
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.
Corn, soybeans and wheat traded on both sides of unchanged during the overnight session but are mildly weaker early this morning.
ENSO-neutral conditions likely to persist.
Cash cattle prices have retreated from recent record levels but remain at historic highs.
CPC puts nearly 90% odds of neutral conditions lasting through August and 56% chances they will persist until October.
Drought covers 35% of spring wheat areas, but only minor levels for corn, soybeans and cotton.
Brazil threatens reciprocal measures to Trump’s planned tariffs.