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Overnight markets showed slight gains in grains and mixed oilseeds. Soybeans firmed as the dry August outlook raised concerns for yields during the key production period.
Spring wheat led wheat higher after a crop tour estimated yields below USDA's figures.
Dry August forecasts put soybean and corn yields at risk, supporting prices. Lower spring wheat yield estimates than USDA's add upside pressure to wheat.
graincentral.comGuest AuthorJul 27, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Spring wheat led grains higher after a crop tour estimated yields below USDA, tightening expected supply and supporting SRW via spillover.
A crop tour estimate below USDA's yield figures lifted spring wheat and wheat generally, adding supply-driven buying pressure ahead of the 31 July move.
