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On the other hand, wheat sales climbed in the face of rising futures prices, with USDA also reporting a small but unexpected sale for 2022-23.

Profit-taking overnight. Industry still trying to get a handle on Canada’s wheat and canola crops. Central China is dealing with floods. FTC adopts policy statement to take on ‘right to repair.’

Corn and soybean basis remain much stronger than normal.

After the Bell | July 21, 2021 Hot, dry Midwest outlook boosts new-crop corn, soybean futures, winter wheat hits two-month highs.

Given last year’s pandemic-related disruptions to the cattle herd, the data could receive more market attention than it typically does, with traders likely to take particular note of USDA’s calf crop estimate.

On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.324 million head of cattle on feed as of July 1, down 1% from year-ago levels.

Vilsack says more aid coming | Slim odds for axing corn-ethanol mandate

Ahead of the Open | July 21, 2021 Grain, soybean futures mostly higher as Midwest, Plains dryness trims crop potential.

A high pressure ridge could lead to more drying in western Corn Belt, Northern Plains. USDA isn’t the only one missing the mark on Canada’s wheat crop. Odds are low for a proposed bill to end corn-ethanol mandate.