Markets - General
Hot and dry weather is expected for the next week or two, but forecasts vary on how dry August will be. Any weather shift could shake up the market.
Even with the heat in the forecast, rains have helped remove the panic from the corn and soybean markets the past month. And as July enters its final weeks, the corn “weather market” may be behind the U.S.
July rains calmed some concern about the corn crop this year, but between crop conditions, weather issues and other factors stirring in the markets, analysts say soybeans may still have a bullish story this summer.
A 2021 big-yield scenario suggests lower prices than seen in mid-July, but not low enough to leave financials stained with red ink.
As rains swept portions of the Corn Belt still parched and searching for rain, not every area of the country saw rain relief. The spring planted wheat crop is still suffering from too much heat and not enough rain.
Traders liked what they saw in the latest World Agricultural Supply and Demand Estimates (WASDE) report released Monday from USDA. Joe Vaclavik and Ben Brown break down the key takeaways from Monday’s report.
Less than two weeks after USDA issued an updated June Acreage Report, which revealed fewer planted acres than expected, USDA says it still expects larger corn supplies and an uptick in ending stocks.
Just a day after USDA released the July WASDE report, which showed a shocking drop in all-wheat production and yield, the July corn contract traded 80 cents higher mid-day Tuesday. Analysts weigh in on the reason.
The Acreage report lit up the grain markets last week, with USDA calling for lower corn and soybean total acres in 2021. Unfortunately, those market fireworks have fizzled.
The global economy’s slow-and-steady rebound from the COVID-19 pandemic is good news for U.S. agriculture.