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Cash prices generally strengthened for grains, soybeans.

“Active weather prevailed across much of the South, East, and Midwest, as well as parts of the Plains, into the middle of July, followed by a southward shift in widespread shower activity,” today’s report says.

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Ahead of the Open | July 22, 2021 Grain futures slump in overnight sell-off, soybeans at one-week low.

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.