Thursday July 25, 2024

• There was a flash sale of 264,000mt of soybeans for delivery to unknown destinations during 2024/2025 marketing year 
• The weekly ethanol report has been released, stocks were up 563k barrels week/week. Demand remains on trend seasonally and production is in line with last year
• The Panama Canal is finally making a recovery with the region receiving 2 feet of water in the past two months. This should help US grains become more competitive for export
• The wheat quality council tour projected record yields on Wednesday for North Dakotas Spring wheat, these will be the best yields since the tour began in 1994
• The US governments Climate Prediction Center has now issued a hazardous heat warning for a large part of the Corn Belt and the US plains (see the map below). South Dakota, North Dakota, Montana and Nebraska still have a rapid onset drought risk warning in place