CME GRAINS: Corn: $6.3975 (+10.50); Soybeans: $15.35 (+14.75); Wheat: 8.06 (-4.75); Cotton: $114.44 (+4.00)
National Corn Wire
STOCK UPDATE: Dow 30: 33,761.05 (+424.38); Nasdaq: 13,047.19 (+267.28); S&P 500: 4,280.15 (+72.88) (Stocks Higher On Consumer Sentiment Optimism)
Market Update
ENERGY PRICES: Crude Oil: $91.85 (-2.49); Heating Oil: $3.5098 (+0.0258); Natural Gas: $8.761 (-0.113)
Market Update
WHEAT OUTLOOK (WASDE): Supplies are raised on increased production, which is up 44 million bushels to 1,781 million, on an increase in harvested area and higher yields
WASDE
COARSE GRAIN OUTLOOK (WASDE): Corn production for 2022/23 is forecast 45 million bushels higher based on greater planted and harvested area from the June 30 Acreage report. The yield is unchanged at 177.0 bushels per acre
WASDE
SOYBEAN BALANCE SHEET: Soybean exports are raised 25 million bushels to 2.12 billion, partly offsetting lower exports from Brazil, Ukraine, and Russia
WASDE
OILSEED OUTLOOK (WASDE): This month’s U.S. soybean supply and use projections for 2022/23 include lower beginning and ending stocks and higher prices
National Soybean Wire
WHEAT BALANCE SHEET: The projected season-average farm price (SAFP) is raised $0.10 per bushel to $7.60 on expectations for cash and futures prices for the remainder of 2021/22. This would be the highest SAFP since 2012/13
WASDE
CORN BALANCE SHEET: Exports projected at 2.5 billion bushels, unchanged from last month. Ending stocks unchanged at 1.44 billion bushels
WASDE
DROUGHT MONITOR: Drought improves slightly... 65.59% of the contiguous U.S. in drought this week, compared to 66.48% last week and 56.22% last year
Weather
Short Range Weather: . Monsoon showers and thunderstorms may result in flash flooding and debris flows from the Four Corners region and Southwest into the Intermountain West through the weekend
Weather
CORN MARKETS: A lot of it will depend on today’s report and what USDA uses for a yield estimate. The average trade guess suggests we will see a yield cut today, so anything above 176 will probably be deemed bearish (Schwieterman)
NBW Market Commmentary
GRAIN TRENDS (Short Term/Long Term): CORN: Up/Down; WHEAT: Up/Down; SOYBEANS: Up/Up
National Corn Wire
U.S. EXPORT SALES: Beef sales not great but up 22% from last week; Corn sales terrible
Market Update
Minnesota Soybean Checkoff Investment Leads To First U.S. Soybean Meal Shipment To Uzbekistan
AgToday
NATURAL GAS: Henry Hub up 94 cents to $8.45, the highest daily price since a winter storm contributed to near record-high spot prices in February 2021
Cash Prices
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports
CORN EXPORTS: Net sales of 151,600 MT for 2021/2022--a marketing-year low--were down 63 percent from the previous week and 73 percent from the prior 4-week average
National Corn Wire