Corn

Ethanol production for the week ending August 16 exceeded 1 million barrels, an increase of 26,000 barrels compared to the previous week. Ethanol stocks rose by 220,000 barrels, reaching nearly 23.6 million barrels.

Export sales forecast for old-crop corn for the week of August 15 is expected to be between 100,000 and 300,000 tons. New-crop corn sales are projected to range from 500,000 to over 1 million tons.

Corn prices rebound: The September Corn contract settled at 375.5 cents per bushel on August 21, an increase of 0.13% compared to the previous session.

Soybean

USDA reports another private export sale of 121,000 tons of 2024/25 soybeans to unnamed countries.

Estimated export sales for the 2023/24 crop are projected to range from 100,000 to 400,000 tons for the week ending August 15. New-crop soybean sales are expected to be between 800,000 and 1.35 million tons.

Soybean prices rise for the third consecutive session: The September Soybean contract settled at 963 cents per bushel on August 21, up 0.6% compared to the previous session.

Wheat

Canadian railway workers are expected to strike at midnight, potentially disrupting some U.S. export operations along the border states.

Export sales are projected to range from 250,000 to 500,000 tons for the week ending August 15.

South Korean importers purchased 50,000 tons of U.S. wheat in a tender on Wednesday. Ukraine's Ministry of Agriculture has proposed capping wheat exports at 16.2 million tons for the 2024/25 crop year, covering the period from July 1 to June 30.

Wheat prices fall sharply: The September Wheat contract settled at 519.75 cents per bushel on August 21, a decrease of 2.45% compared to the previous session.

Source: Collected from various sources