Record Corn Yield in Illinois?? Scouts Say "Not So Fast"
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0:00 Crop Tour Update
4:21 CME / Fanduel Casino
7:32 Russia Wheat Update
10:21 Cattle Surge Again
12:14 Fed Minutes
13:59 Ethanol Production
14:46 Flash Sale
π½ Pro Farmer Crop Tour β Big Updates! π±
The tour released results from Illinois and western Iowa:
Illinois corn came in at 199.6 bpa, the 2nd-highest in tour history, just shy of last year. π½
Soybeans set a new record for pod counts, up 4.2% vs. last year. π±
Western Iowa crops look strong, with corn yields 10% above the 3-year avg. and soybean pod counts up 18%! π
But disease concerns could still limit final yield potential.
π Markets Meet Gambling?
FanDuel is teaming up with CME to launch regulated betting contracts tied to:
S&P 500, Nasdaq, oil, gas, gold, crypto πΉ
Key economic indicators like GDP & CPI π
Founders of the CBOT (1848) might be rolling in their graves over this oneβ¦
πΎ Global Wheat Watch
Sovecon raised Russiaβs wheat crop outlook to 85.4mmt π. Good weather in Siberia & the Urals boosted yields, but export logistics remain a challenge.
π Cattle Rally Continues
Cattle futures hit new highs as supplies remain tight and demand strong. USDA says no to Mexican feeder imports due to disease risk. Beef values hold near record levels. π₯©
π΅ Fed vs. Inflation
Fed officials see inflation (fueled by tariffs) as the bigger risk vs. jobs. Rates stay at 4.3%, unemployment is up to 4.2%, and inflation just hit a 3-year high. βοΈ
β½ Ethanol Snapshot
Output: 1.07M bpd (down 2% on the week)
Stocks: 22.69M barrels
Margins remain strong thanks to cheap corn. π½
π’ US Export Sales
US exporters reported new corn sales:
100k mt to Colombia π¨π΄
125k mt to Mexico π²π½
π Stay tuned for charts, graphics, and deeper breakdowns in the corn π½, soybean π±, wheat πΎ, and cattle π sections below!
π₯ Donβt forget to subscribe & drop a comment with your take on these market moves!