Yesterday’s “derecho” weather event that brought hurricane-force winds to parts of Iowa, Illinois, Wisconsin, and Indiana likely caused 200-400 million bushels of lost corn production. Some estimates suggest the event may have lowered the U.S. national corn yield by as much as 2 bushels/acre. The wind also reportedly toppled grain bins, causing concerns about the volume of on-farm storage available this fall. Iowa’s agriculture secretary noted some of the damaged corn will “still make a crop this fall”, but that harvestable quantities cannot be estimated presently.
The CBOT started higher on Tuesday with that backdrop supporting corn and soybean futures. Wheat futures were higher on a combination of su...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
