USDA’s WASDE and Crop Production Report out at 11:00 a.m. CT. China trims soybean import projection for 2020-21. Low water levels on Parana River could get worse before it gets better.
Stifling summer heat stretches from coast to coast. Heat and dryness remain problematic in Canada. House to cut recess short, take up Democratic budget plan. Delta variant is threatening China’s economic recovery.
The data is also expected to remind of the thin supply cushion for both crops.
The statistics agency also cut its soybean export forecast by 3.3 MMT and warned further cuts could be coming.
Cordonnier holds U.S. corn and soybean yield projections steady after recent rain. Senate Democrats on Monday unveiled a $3.5 trillion spending plan. Information regarding aid for contract hog producers could come soon
Soybean ratings did not improve in response. Find more highlights from today’s Crop Progress and Condition Report here.
Tyson Foods Inc. reported stronger-than-expected earnings for the third quarter, but the company says it cannot increase prices for chicken and prepared foods fast enough to keep pace with rising raw material prices
Corn inspections were more than halved compared with the week prior, with inspections coming up well short of expectations. Soybean inspections were also light and near the lower end of expectations.
Commodity trade keeping an eye on tumbling crude oil futures. Weekend rains lighter than expected for much of the western Corn Belt. Sanderson Farms announces $4.53 billion sale to Continental Grain.
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Meghan Vick

Meghan joined Pro Farmer in June 2011 and is currently the News Editor. Prior to joining the Pro Farmer team, Meghan worked as an editor at Stocks, Futures and Options (SFO) magazine. During her time there she gained her Series 3 license from the National Futures Association. She is a 2009 Summa Cum Laude graduate of Wartburg College in Waverly, Iowa, with Bachelor of Arts degrees in English and writing. LimelightPlayerUtil.initEmbed(‘limelight_player_28855'); At Pro Farmer, Meghan writes many of the daily market commentaries in addition to website news stories and updates on Washington happenings. She also compiles the quarterly Washington Outlook Report.