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IMF slashes global GDP forecast as economic outlook grows ‘gloomy and more uncertain’

Corn, soybeans gap higher overnight, surge after larger than expected crop ratings drop; wheat stronger.

Corn and soybean futures gapped higher overnight after USDA’s crop condition ratings dropped more than expected. Wheat futures followed to the upside.

Corn and soybean CCI ratings are below their respective five-year averages, while the spring wheat rating is still well above its average for the date.

Grain, soybean futures gain on concern over Ukraine shipments, return of Midwest heat next week.

USDA sees higher prices for 2023, but rate of increase to significantly decline

IMF update Tuesday, FOMC rate hike Wed., GDP report Thursday

Export inspections for week ended July 21, 2022 were within estimated ranges for corn, soybeans and wheat, however the current year’s pace continue to fall behind last year.

Grain futures are sharply higher to start the week. Cattle futures are under light pressure with lean hog futures under pressure despite gains in the cash market...

Grain futures expected higher on concern over Ukraine port attack, return of Midwest heat.