Tuesday July 26, 2022

  • Markets up across the board this morning after seeing declining crop ratings as current forecasts remain hot and dry 
  • Brazil now 62% completed their safrinha corn harvest 
  • The European Union updated their crop yield estimates lower for both corn and beans
    • Corn estimate fell from 125.4 bu/ac to 115.5 bu/ac
    • Wheat down from 85.65 bu/ac to 85.35 bu/ac
  • U.S. crop progress and conditions report
    • Corn fell 3% to 61% good/excellent 
    • Soybeans also fell 2% to 59% g/e
    • Winter wheat harvest now 77% completed