Thursday August 25, 2022

• Mixed markets this morning with corn inching higher while soybeans and wheat continue to move off highs made earlier in the week 
• The corn market continue to get support from the Pro Farmer Crop tour as yields disappoint across the corn belt 
• Brazilian analyst Conab estimated 2022/23 soybean crop at a record 150.4 MMT – up from the 2021/22 seasons 126 MMT due to higher planted acres and higher expected yields 
• Conab also predicted 2022/23 corn production at 125.5 MMT compared to 116 MMT this past season
• Pro Farmer Crop Tour continues
  • Illinois corn yield pegged at 190.7 bu/ac – down form last year but above average of 185.6
  • Illinois soybean pod count at 1,250 – also down from last year but above average
  • Tour now moving into Iowa where so far have seen corn yields mostly lower than average with soybean pods running about average