Tidbits, S&D Estimates, Soybean Sales, Exports, Input Costs, Broilers & Ethanol 7/9/26
- Wright team
- Jul 9
- 4 min read
Tidbits
Some analysts said the sharply higher crude oil was why CBOT prices were smartly lower yesterday while other analysts said it was the belt of scattered showers from Kansas to Minnesota with more in the forecast for today and tomorrow. We will side with the rain for the lower prices.
When it is July and rain is falling on Iowa, corn and beans will be down. Some weakness is caused every month by the fear of the USDA monthly S&D, which will be released tomorrow at 11 AM Central time. The markets were due for technical correction and profit taking after two very strong days.
The 6 to 10 day and 8 to 14 day forecasts from the National Weather Service and many private forecasters predict much above normal temperatures and below normal rainfall. With most of the nation’s corn pollinating in the next two weeks with that kind of a weather forecast, we do not recommend selling corn. Frankly, we were surprised that corn traded as much as 4.25¢ lower last evening.
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