Corn

As of August 25, 84% of U.S. corn crops are in the dough stage, higher than usual. 46% of the crop is dented, above the 5-year average.

The Export Inspection report recorded over 894,000 tons of corn shipped during the week ending August 22, down nearly 25% from the previous week but still 49% higher than the same period last year, marking the largest volume for this current week since 2018. Total exports for the marketing year to date are 51 million tons.

Corn prices surged in the early week trading session. The December Corn Contract settlement price on August 26 was 386.5 cents per bushel, up more than 4.3% compared to the previous week’s session.

Soybeans

89% of U.S. soybeans have set pods, higher than normal; leaf drop is at 6%, also above average.

The Export Inspection report on Monday morning showed that 411,000 tons of soybeans were shipped during the week ending August 23, an improvement over the previous week and higher than the same period last year. Total accumulated sales reached 44,000 tons, down nearly 14% from the previous year.

The November Soybean Contract price rose in the early week session. The settlement price on August 26 was 980.75 cents per bushel, up 0.8% from the previous week’s session.

Wheat

51% of the spring wheat crop has been harvested, down from the 5-year average.

Export Inspection data showed a total of over 537,000 tons of wheat shipped during the week ending August 22, up more than 44% from the previous week and nearly 38% higher than the same period last year. South Korea was the largest destination with nearly 96,000 tons, of which 66,000 tons were headed to Vietnam. In nearly three months of the marketing year, total exports reached 5.146 million tons, up nearly 28% from the previous year.

The December Wheat Contract price continued to decline in the early week session. The settlement price on August 26 was 525 cents per bushel, down 0.57% from the previous session.

Souce: Complied