Tidbits, Wheat Market Comments, Weather & Drought, EU Crops, Export Sales 8/7/26
- Wright team
- 1 hour ago
- 4 min read
Tidbits
Flash Sales: Yesterday, the USDA announced the sale of 122,000 mts of new crop soybeans to China.
Weather:
The drought monitor as of August 4th shows 70.9% of the U.S. is experiencing abnormal dryness or drought, up 3 points from the previous week, with 48.5% in D1 level drought or higher: corn at 28% (down 1), soybeans at 26% (unchanged), and 58% (up 16 points) of spring wheat acres also impacted.
The National Weather Service 7-day forecast expects rain to be lighter in the coming week. Rainfall chances are still present in the eastern U.S., though totals are noticeably lighter. Temperatures are expected to be slightly above normal for most of the central and southern U.S. as well.
BenNollWeather reported this year's El Niño will dwarf the six other super El Niño events on record. A projected +4.1°C rise in central Pacific Ocean temperatures by December would leap past previous peaks of +2.8°C to +3.0°C in 1877, 1997 and 2015. No one alive has witnessed an El Niño this strong.
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