Overview
- ProFarmer crop‑tour counts in key Corn Belt states showed corn yields and soybean pod counts below recent averages, prompting sharp rallies in both markets this week.
- USDA data for the week of Aug. 13 showed an unusually large U.S. corn shipment of about 1.91 million metric tons while soybean export shipments were markedly weaker, shifting near‑term demand and supply math.
- Managed‑money funds remain heavily long corn, which has amplified price swings as traders reacted to the tour and export reports.
- Wheat prices are firming after renewed strikes and disruptions to Black Sea exports pushed buyers toward alternative origins, supporting U.S. and global wheat bids.
- Livestock markets face mixed signals: USDA’s July cattle inventory points to more cattle on feed now but a smaller calf crop ahead, and Cargill’s Fort Morgan plant workers voted to end a lockout with slaughter scheduled to resume Sept. 7, which will affect local processing capacity and short‑term flows.