The corn and soybean markets are finding strength today from a mix of supportive fundamentals and trader positioning, as many are weighing early feedback from the ProFarmer Crop Tour. So far, the tour has delivered some notable surprises, particularly in regions where yields look weaker than expected, while other areas are showing more resilience. The big question is whether this tour ultimately backs up USDA’s latest yield estimates for corn and soybeans, or if it challenges them with a more tempered outlook. Attention now shifts to Friday, when ProFarmer will release its official yield numbers, which could set the tone for next week’s trade. Looking beyond that, the direction of USDA’s future yield projections will be critical, especially as weather, export demand, and global trade flows continue to influence the markets. All of these factors together will shape how much staying power today’s strength in grains really has.
Jeff Peterson with Heartland Farm Partners talks today’s Market Wrap Up
