Grain > Commentary > 7-13-2021

7/13/2021

Jul 13, 2021

7/13/2021
Corn and soybeans traded mixed overnight and firmly higher during the day session, mostly supported by the wheat board where buying interest has been abundant due to the current condition of this year's spring wheat crop.  Crop progress ratings for spring wheat maintained the 16% good/excellent score from the week prior but the poor/very poor category grew by 5 points to 55%.  Corn condition improved slightly from last week, increasing the good/excellent by 1% from last week to 65%.  South Dakota showed the biggest improvement in their corn crop in the previous week with a 7-point jump in the good/excellent category.  Soybeans maintained their good/excellent rating of 59% from the week prior but Iowa's soybeans improved nicely with a 6% increase of beans seen good/excellent.  These crop ratings allowed trade to shrug off yesterday's neutral/negative WASDE report after it was expecting to see bigger improvements in the corn and soybean condition.  Locally, the prospective rain totals for tomorrow have increased for our area since yesterday!

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