Today’s Prices
Grain markets sharply lower across the board with several factors from sharply lower crude oil, a slightly negative USDA report combined with more precipitation for the eastern belt.
Grain Market News
U.S. Ending Stocks 2021-22
Corn was about 19 million bushels above the average trade guess, soybeans came in right on the average guess, and wheat came in just fractionally above the average guess.
U.S. Yield 2022
The US yield for corn was the average estimate, soybeans was the same as the estimate, and wheat yield was up slightly from the June report.
World Ending Stocks 2021-22
Corn came in a fraction above the estimate, soybeans came in a little above what was expected, and wheat came in fractionally above the average estimate.
New year stocks had corn about 2 million above, soybeans fractionally higher, and wheat stocks fractionally lower.
Grain and Corn Balance Sheet
Soybean Balance Sheet
Wheat Balance Sheet
Grain Market News
Current Conditions
Noon temperatures right around 80 degrees across the bulk of the belt, those temperatures will rise to the daily highs.
Temperatures in the low to mid 80s for the most part are non-threatening.
This week looks to be mostly dry for the U.S. corn and bean belt.
7-Day Precipitation Forecast
This morning the forecast shows almost complete dryness for most of the central U.S. corn and bean belt but the midday on the right shows some better rains in the eastern belt.
Temperature Outlook
We can see the heat for the entire U.S. corn and bean belt in the 6-10 and the 8-14 but we do see a better chance for rain in the eastern belt where the gray shows up.
Temperature Graph
This shows the optimal temperatures Fahrenheit on the right side, optimal temperature is 86 degrees provided you have adequate soil moisture for corn.
September Corn Chart
Corn prices down sharply today from yesterday morning until today this corn market has given back almost all the rallies.
Extreme volatility is and will continue to be a big factor in the corn market right through July and into August.
Current chart support at the previous lows of 5.66, current overhead resistance at 6.58.
September Soybean Chart
Soybean prices had a consolidated period in late June and are now extremely volatile.
Current chart support at 13.02, overhead resistance at 14.38, and close at 13.43.
September KC Wheat Chart
Wheat prices also like the corn and soybean market with the rallying and volatility.
Wheat has chart support at 8.32 and overhead resistance right around the $10 level.
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