Wednesday July 7, 2021

  • Markets fell sharply yesterday as excitement from last weeks report wore off and weather outlook for most of the corn/soybean belt in the U.S. is looking as close to ideal as possible
  • Weekly U.S. crop conditions report
    • Corn ratings were unchanged at 64% g/e – still slightly trailing average of 69% g/e
    • Soybeans fell a point this week to 59% g/e – also trailing average of 66% g/e
    • Winter wheat harvest now 45% complete in U.S. 
  • Market continues to be weather driven 
    • Besides weather next event on my horizon is the July 12 USDA supply and demand report 
    • This report will reflected the acres reported at the end of June and we are also expected to see an increase in demand