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Hot, dry forecasts for August bolstered grain and soy futures.

The U.S. economy displayed “moderate to robust growth” from late May to early July, according to today’s Beige Book released by the Federal Reserve.

Powell testifies | EU unveils climate change plan | Debt limit | Inflation accelerates

Grain and soy complex futures finished higher near session highs overnight, which should spark followthrough buying today.

Storms expected to roll across the Midwest from today forward. China’s summer wheat crop up from 2020, but quality is a concern. Biden to meet with Senate Democrats about their $3.5-tril. budget reconciliation plan.

Cordonnier sports a neutral to lower bias on U.S. corn and soybean crops, Americans expect inflation to increase and China’s meat imports retreat…

USDA will update its U.S. and global balance sheets today, weekend precipitation was light over the upper Midwest and a resurgence of ASF in China may extend pork demand...

China’s PPI rises, Secretary Vilsack will travel to Omaha today and President Biden is expected to sign a sweeping Executive Order...

Tropical storm Elsa is expected to weaken, Canadian wildfires disrupt rail transport and USTR Tai discusses ethanol policy with Mexican officials...

Futures work to rebound from yesterday’s losses overnight, China expects to increase domestic corn production and USDA Secretary Vilsack will visit Nebraska this week...