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Gary's Blog 07/21/26 1:28:36 PM
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7-20-26 Crop ratings G/E %
TW LW OH
Corn 67 68 62
Beans 66 65 63
7-21-26
Markets were mixed today as crop ratings were better than expected last night. Corn G/E ratings only fell 1 point while soybeans actually improved. The trade was looking for a 2-3% decline across the board. States that are struggling are IL/IN/OH with G/E ratings in the 60s. The powerhouse states of IA/MN/WI are fantastic with nearly 80% of the crop rated good to excellent. Some private firms have suggested above trendline yields using their algorithms/veg maps. Both corn and soybean yields are still extremely vulnerable to weather for the next 4-6 weeks. Markets will remain sensitive to geopolitical news and weather forecasts.
7-20-26
China has an appetite for US beans which has spurred buying across the complex. Corn demand has also been stellar with whispers that China may also come to the table. Any sort of yield hiccup and carryout levels get tight rather quickly. This has led to short covering and possibly sending funds to the long side of the market. Weather has become critical now that demand shows no signs of slowing down. Forecasts are mixed with some areas getting moisture while others miss out entirely. Temps have moderated somewhat after last weeks record heat wave. Wheat suffered minor losses as trade action is focused more on the Russia/Ukraine situation.
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