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COVID-19 shutters a key Chinese port, House Democrats urge Speaker Pelosi to approve the bipartisan infrastructure package and home prices continued to soar in the second quarter...

Republicans on Senate Ag panel want hearings re: $135 billion in new ag spending

Ahead of the Open | August 13, 2021 Wheat futures reach contract highs after USDA cuts global supply outlook, corn, soybeans higher.

Friendly USDA data lifts corn, soybean and wheat. Argentine exchange expects soybean plantings to slide for sixth year in a row. Moderate Democrats pressure Pelosi to take up physical infrastructure package.

After the Bell | August 12, 2021 USDA’s lower-than-expected harvest estimates boost corn futures to six-week highs, wheat to three-month highs.

Your editors take you through USDA’s latest WASDE and Crop Production Reports that had no shortage of surprises.

Its initial soybean crop estimate was also a bit smaller than expected, and it sliced its all wheat crop quite a bit more than the market anticipated. The market was also caught leaning the wrong way on cotton.

“Increased drought coverage and intensity was more common, as a large majority of these areas recorded light precipitation at best,” today’s drought summary says.