Monday August 23, 2021

  • Markets entering this week quietly after some dramatic swings last week with soybeans driving the volatility swinging a dollar from highs to lows 
  • Pro Farmer Crop Tour finished last week and pegged the U.S. Crops as follows
    • Corn yields predicted at 177.6 bu/ac – above the August USDA Reports yield estimates 174.6 bu/ac
    • Soybean yields predicted at 51.2 bu/ac – also above August USDA Report yield estimates 50.0 bu/ac 
    • See chart below to see how the Pro Farmer Yield estimates compare to USDA August, September, October and Final yields
  • Rains over the weekend were beneficial in the North-West U.S. but we not quite as widespread as expected – overall still expecting to see a decline in crop conditions in this afternoons report with the benefits of this rain likely not reflected until next week