July jobs update awaited. Temp swings stressing Argentine wheat, but not enough to lower crop prospects. China to release reserves of commodities ‘essential for livelihood,’ takes more steps to control hog supply.
IHS Markit Agribusiness and Linn & Associations estimated the U.S. corn crop will yield an average of 176.5 bu. and 176.16 bu. per acre, respectively.
Conditions were mixed for the Midwest the week ending Aug. 3, with heavy precipitation again favoring southern and eastern areas of the Midwest, with little to no rain in the Upper Midwest.
Old-crop sales of the grain were light, but in line with expectations. Wheat sales fell short of expectations. Soybean sales were in line with expectations, with new-crop business perking up a bit.
Global food prices dip in July. Shipping container rates soar. A top Federal Reserve official said higher interest rates could come as soon as early 2023. Boxed beef prices still roaring higher.
Diminished rain chances for the Corn Belt over the weekend, but rain possible mid-month. StoneX’s U.S. corn crop forecast well under USDA’s. China to probe fertilizer firms.
The ag economy barometer stabilized at levels similar to where it stood for much of 2017 through 2019.
Cordonnier sticks with U.S. yield pegs, but anxious about dry northwest Corn Belt. Frost shrinks Brazil’s winter wheat crop. Egypt to raise subsidized bread prices. ASF spreading across the Dominican Republic.
On the other hand, soybean and spring wheat ratings unexpectedly improved. Find more highlights of USDA’s Crop Progress and Condition report.
The amount of corn inspected for export handily topped expectations and the tally nearly doubled the year-ago figure. In addition, last week’s number was also revised nearly 150,000 MT higher.

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.