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USDA maintained its weather-adjusted trendline yield estimates for both corn and soybeans and incorporated its June 30 harvested acreage estimates.

Inspections for corn, soybeans and wheat were in line with expectations.

Corn soybean and spring wheat futures are mildly higher this morning. Cattle futures are mostly weaker with hog futures off to a firmer start to the week.

Corn and soybeans were mildly firmer overnight on positioning ahead of USDA’s July crop reports at 11 a.m. CT. Weekend rains were ample across all but northern locations of the Midwest.

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Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.

Markets favoring the upside as trade readies for USDA reports. Timely rain for much of the Corn Belt, but Upper Midwest remains dry. China to boost boost storage capacity and ease restrictions for small hog producers.

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After the Bell | July 9, 2021 Mild Midwest weather outlook keeps corn under pressure as markets await USDA Supply and Demand report.