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After the Bell | July 6, 2021 Grain futures nosedive as expected Midwest rain improves harvest outlook.

“Producers in June were less optimistic about both current conditions on their farming operations as well as their expectations for the future,” with the former driving the decline, according to today’s report.

Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.

Inspections of corn and soybeans were in line with expectations the week ended July 1, though expectations for soybean shipments were admittedly light. Wheat inspections fell just short of expectations.

Grain and soy futures opened under hefty pressure on weekend rains. Fat cattle futures are under pressure as lean hogs firm.

Ahead of the Open | July 6, 2021 Grain, soybean futures expected to open lower on Midwest rainfall outlook.

U.S. agricultural export, imports were nearly tied in May

Rain ahead for U.S. Northern Plains and Midwest as well as the Canadian Prairies. Cordonnier lowered his U.S. corn and soybean yield estimates, as well as his corn crop projections for Brazil and Paraguay.