Monday August 29, 2022

  • Mixed markets this morning – corn and wheat on the green side with beans moving lower 
  • Pro Farmer released their official U.S. yield estimates after the tour concluded Friday
    • Corn yield – 168.1 bu/ac 
      • Current USDA yield 175.4 bu/ac
    • Soybean yield – 51.7 bu/ac 
      • Current USDA 51.9 bu/ac 
    • Overall a bullish report for corn and if realized would leave corn extremely tight on corn supplies (however the pattern of Pro Farmer coming in low with yields is not forgotten) This is not the bullish boost the beans were looking for coming in quite close to USDA projections 
  • Beneficial rains continued through the weekend helping beans fill final pods as the crop approached the finish line 
  • Private analysts will continue to come out with updated yield estimates this week