This week’s U.S. Drought Monitor shows conditions deteriorating across the South and parts of the lower Corn Belt, while areas of the High Plains show improvement.
•Corn: 28% in drought, up 1% WoW
•Soybeans: 30% in drought, up 2% WoW
Pro Farmer 2026 U.S. corn and soybean crop estimates:
Corn: 15.344 billion bu.; average yield of 173.2 bu/ac
Soybeans: 4.572 billion bu.; average yield, 53.3 bu/ac
https://t.co/OV1g0LdlEZ
There have been 52 summer rallies over the last 44 years; 14 of those rallies began in the first three weeks of May though June is historically the most common time for a rally to begin.
https://t.co/W0f8Josoum
With old crop #corn carryout now at 1.45 bil bu, weekly charts are looking friendly. $5.00 is likely the next target. IF bullish news occurs in the coming weeks(weather scare or strong demand), there is potentially an inverted "head & shoulders" formation, which points to $6.00.
#Soybean prices face two significant threats going forward. First, we have a big crop growing in Brazil with great weather. Second, the absence of 45Z guidelines to tell fuel processors what kind of subsidies to expect to get for using #soyoil as feedstock for green diesel. #oatt
Latest research into Summer 2024 indicates the potential for one of the hottest summers on record for the United States.
We are expecting a La Niña to develop by late this summer and the top 6 hottest summers on record from a cooling demand perspective were either in a La Niña or had one developing.
We'll break it down month by month and what to expect for summer rain/storm threats in our webinar on May 15th! Sign up for free here: https://t.co/8vjRGDf9OF.
Plus check out our update today on our first episode of WeatherYield on YouTube: https://t.co/cu9jd4gZ6Y
#Heat #Summer #HeatWave #Climate #AGwx
Very respectable corn export sales. Recent four weeks are +56% vs. the five year average. Today's number was the third best sale for that specific week of the past 10 years. Unlike soybeans, US export prices are near parity with Brazil.
Rainfall ranks by crop reporting district versus the past 131 years of weather data for the 2nd half of August shows it was one of the driest on record in central corridor of the country. #corn#soybeans#wheat#oatt
#farmers- today was the 18th day out of 160 trading days in 2023 to sell #SX23 above $14.00. If you hated the #managedfunds when we were at $11.30- take vengeance on them today. They just gave you $2.70 per bushel back of revenue. $13,500 on every 5K bushels you grow. Sell or Hedge. But get off the bench and into the game. #soybeans #oatt
.@Cargill acquires family-owned grain company
Cargill adds Owensboro Grain Company (OGC) to supply chain business.
OGC enhances Cargill's efforts to increase capacity across oilseeds network.
Read more here: https://t.co/AnhMaOTvze
#USAg#USFarmer#AgTwitter#Grain#Oilseeds
A corn #CoverCrop isn’t as simple as a soybean cover but with proper planning you can successfully integrate cover crops into your corn cropping program. Get #CargillRegenConnect’s top tips on corn cover crops here: https://t.co/zKljGFMZGH