Crop Progress, Topsoil Moisture, PMI, Weather & China 8/1/22

Very few analysts dared predict the crop ratings released by USDA this afternoon, but Benson-Quinn analysts expected a slight downgrade. Corn percentage in the top two categhories was steady and beans improved 1%.

The corn in Illinois and Indiana improved 3%, but Nebraska was down 3% and Iowa was down 4%. That sounds bullish for corn. The story was pretty much the same for beans.

The numbers:

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