First Thing Today
Corn and wheat futures pulled back from Monday’s gains overnight, while the soybean market faced followthrough selling.
Corn futures extended last week’s gains overnight, while soybeans and wheat traded lower.
Crop Tour estimates Iowa corn yield, soybean pod counts below last year’s levels; Minnesota corn yield higher.
Illinois, western Iowa corn yield estimates down from last year, Crop Tour finds; Illinois pod counts better.
Crop Tour scouts report lower numbers for Indiana, Nebraska; Illinois, Iowa, Minnesota ahead today.
Scouts head through Indiana, Illinois, Nebraska on Day 2 of Pro Farmer Crop Tour after finding subpar yields in S. Dakota.
First Thing Today | August 22, 2022 Soybean futures post corrective gains overnight as market awaits Pro Farmer Crop Tour reports.
Wheat futures were supported by mild corrective buying overnight, while corn and soybeans pulled back from yesterday’s gains.
Active followthrough selling weighed on wheat overnight, while corn and soybeans faded amid spillover pressure and favorable weather forecasts.
Corn, soybean and wheat futures extended yesterday’s losses overnight but all three markets held above Monday’s lows.