Daily Soy Report, July 17
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Thank you for subscribing to AgResource Daily Soy Report! Click here to read the report
Bottom Line: USDA is projecting Russian wheat yields this year to be 2.64 MT/Ha, down about 1% from last year’s record yields. However, the most recent wheat harvest report shows this year’s wheat yields are 5% higher than a year ago at this time. The USDA, and some private analysts, have raised the estimates…
Extreme heat strikes Nebraska and vicinity mid-to-late week. Midday models show a wetter trend in the Midwest for next week. But will thunderstorm activity be enough to slow widening drought?
** As expected, the CBOT is trading both sides of unchanged this AM with a positive bias as the extended US weather forecast maintains the same kind of Ridge Central and Trough NE Canada that has prevailed for the past 6 weeks. The market senses that this R/T weather pattern will keep US corn, soybean…
Bottom Line: Brazil’s corn export “commitments” were estimated to be 6.67 MMT as on Jul 14. That’s up 89% from a year ago and the 2nd highest figure ever (for this week). IF everything in the lineup gets shipped as scheduled, July shipments could be 4.3 MMMT (vs June shipments of 1.06 MMT). That would…
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