Wednesday July 8, 2020

  • Markets stepping back again this morning as prices consolidate ahead of Friday’s USDA report
  • Rains on the forecast for the weekend but no break from the heat as it looks like the uncomfortably hot trend will continue through July
  • The next couple weeks are critical for U.S. corn crop as the enter pollination phase which is when crop stress can have the greatest impact on yield
  • Wheat prices attempting to rebound as production estimates in some of the major global players shrink
    – Reductions expected in the U.S., Argentina, France and the Black Sea Region