What You Need to Know Today:
Traders are increasingly focused on next Wednesday’s August WASDE report, with corn and soybean yield estimates expected to drive the next major move in grain markets. Recent crop condition declines and late-July heat have increased uncertainty around USDA’s first objective yield estimates of the season. The U.S. economy lost 23,000 jobs in July, marking the first monthly decline in payrolls in several months and falling well short of economists' expectations for an 80,000-job increase. There was a net loss of 53,000 government jobs in July. May and June numbers were also revised downward by a combined 103,000 jobs. The S&P 500 set another record close today and had its best week since April. Ef...
What You Need to Know Today: USDA cut the 2026 corn yield forecast by 1.6 BPA to 179.6, shaving 141 Mbu off the crop. Corn ending stocks were cut by 91 Mbu to a level that pushed the ending stocks-to-use (ESU) ratio to 10.8 percent. Conversely, USDA raised the soybean yield forecast 0.2 BPA to...
Key Takeaways: Expanding U.S. soybean crushing capacity is strengthening domestic demand, driven largely by growing soyoil consumption from the renewable diesel and biofuels industries. Despite increased domestic processing, substantial quantities of U.S. soybeans are expected to remain availa...
