Latest News From Evening Report

Estimates for Russia’s wheat crop continue to slide amid dry, hot weather. U.S. inflation remains at 13-year high in July.

Analysts expect corn and soybean production to come in below July’s projections. Conab slashes its Brazilian corn crop and export forecasts.

Corn ratings lifted by moisture and milder temperatures, but soybean ratings are steady to lower. Abiove expects smaller Brazilian soy crush in 2021, despite bigger crop.

Drought worsens ‘significantly’ in Minnesota and northern Iowa. More firms expect a sub-trendline corn yield. Argentine strike suspended, for now. USDA to issue two new reports to improve cattle pricing transparency.

ANEC says Brazil’s corn exports will be halved in 2020-21. Trucker strike adds to Argentina’s shipping woes. Trucker strike adds to Argentina’s shipping woes.

CME/Purdue Ag Economy Barometer signals farmers nervous about rising input costs. Brazil’s corn imports could triple this year. Food vs. fuel debate resurfaces.

Hot, dry weather for northwest Corn Belt again drags down corn ratings. Spring wheat ratings unexpectedly improve. Big drop in SovEcon’s Russian wheat crop forecast on smaller acreage and drought.

Datagro calling for a 4% rise in soybean planting in 2021-22, dramatic rebound in corn production. IKAR cuts Russian wheat crop forecast. EPA lays out WOTUS plans.

Drought worsens for the Northern Plains and Upper Midwest. IGC calling for little year-to-year change in global grain stocks.

FOMC still believes inflation will moderate, but is discussing when and how to taper. Indiana farmland prices hit record high in 2021.

ADM says China will need to import an additional 2 MMT of soybeans to counter canola losses. Argentine farmer sales still running ahead of year-ago.

Barge rates signal big grain shipments. Today's Cattle on Feed and Cattle Inventory reports were supportive.

Spotty Midwest drought improvement, spring wheat areas still baking.

Another forecast for an even bigger 2021-22 Brazilian bean crop. High degree of uncertainty about coming cattle placements number.

Reuters is reporting the White House delayed rulemaking on RFS. More freezing temperatures likely for Brazil in the days and weeks ahead. CRP signup deadline is Friday.

Spring wheat ratings dive again, as hot, dry weather bakes crop.

USDA raises its 2021 beef export forecast, trims total supply for 2022. July rural mainstreet index shows strong rural economies. Pork processors lost their line speeds appeal.

Worrisome long-term weather maps for spring wheat country and into the western Corn Belt. NOPA’s June crush slows more than anticipated. Schumer plans to tee up infrastructure vote next week.

Beige Book notes the Fed’s business contacts not convinced inflation is transitory. Smithfield halts slaughter at its original Virginia facility. U.S. steps up pressure on businesses over Xinjiang situation.

La Nina re-emergence could spell trouble for Brazilian producers, opportunity for the U.S.

USDA’s initial spring wheat crop estimate much smaller than expected.

Pro Farmer's Evening Report | July 9, 2021 USDA to provide $500 million to support competition in meat processing industry.

Traders readying for USDA's Supply & Demand and Crop Production Reports on July 12.

FOMC minutes note increase in inflation, but attribute rise to transitory factors. Strike by contract workers interrupting flow of exports at Argentina’s Rosario port hub. Abiove hikes Brazilian soybean export forecast

Corn ratings finally stabilized, but condition ratings for soybeans and wheat continue to decline. Meanwhile, labor shortages and rising input costs have dampened farmer optimism.

The D.C. Circuit Court overturns year-round E15. Brazil’s ship lineup for corn down 54% from year-ago. And job growth surges in June. Find more afternoon news updates.

Recent rains did little to budge drought in Upper Midwest and Northern Plains. Soybean crush a bit higher than expected for May. StoneX slices its Brazilian corn crop estimate again.

Highlights from USDA's Acreage and Quarterly Grain Stocks Reports. Some early assessments of frost damage in Brazil.

StatsCan calling for big jump in canola acres, smaller wheat planted area. China announces more corn auctions. And a look at how infrastructure/reconciliation measures might play out.

Corn condition ratings continued to slide, with spring wheat conditions posting another big drop.

The Supreme Court in favor of refiners regarding SREs. USDA boosts its food price inflation forecasts. Meanwhile, its monthly Cattle on Feed Report was generally in line with expectations.

Rains have fallen in the eastern Corn Belt, but areas of the western Belt still drying out. A bipartisan group of lawmakers have reached a tell with Biden on infrastructure. And find coverage of USDA's latest H&P Report.

FBN calling for soybean plantings to drop more than 1 million acres vs. March intentions. Rising grain crop forecasts for the Black Sea region.

Reuters poll pegs Brazil’s corn crop just under 94 MMT. Argentina to limit beef exports to 50% of last year’s levels through year-end. Republicans on Senate panel seek more explanation from EPA on WOTUS plans.

Corn condition ratings dropped a bit more than expected, while spring wheat ratings plummeted. Cotton ratings improved notably.

China scoops up U.S. soybeans on price plunge. We reveal the results of our June acreage survey. And Rabobank also pegs Brazil's corn crop under 90 MMT.

Drought worsens across Iowa, rains do little good in the Dakotas. And long-term weather maps show heat is likely to linger through September.

Fed moves timeline on higher interest rates to 2023. Vilsack signals major changes are coming for the livestock industry.

China to auction off a small amount of corn. NOPA crush once again comes in lighter than expected. Late safrinha corn harvest presents challenges for Brazilian producers.

Condition ratings for corn, soybeans winter wheat and cotton all came in lower than expected.

IHS Markit pares U.S. corn planted acreage outlook. Sovecon raised its grain crop estimates for the Balck Sea region. And USDA announces QLA and second half of WHIP+ payments will start going out next week.

Find highlights from today's WASDE and Crop Production Reports, the latest from Conab and an update on drought conditions within the U.S.

EPA is again reviewing what waters are federally protected.

USDA's June Supply & Demand Report takes on greater importance this year due to tight old-crop corn and soybean supplies.

The corn CCI rating is still a little above average, despite the weekly decline.

U.S. corn, soybean and spring wheat crops rated lower than expected.

Another firm dropped its Brazilian corn crop projection under 90 MMT. Meanwhile, May payrolls climbed, though the gain was short of expectations. Find more afternoon news here.

Rains have little to no impact on Northern Plains drought. Meanwhile, Biden concessions signal he still hopes a bipartisan infrastructure deal is possible.

Argentine producers could extend ban on meat sales, expand strike to grains.

The market was too pessimistic on USDA's initial corn crop rating.