Latest news with #CornBelt
Yahoo
a day ago
- Business
- Yahoo
Corn Bulls Are Bending, Not Breaking: What to Watch in Grain Futures This Week
Corn futures (ZCZ25) bulls did not have their finest hour last week. However, by the end of the week they were able to stop the bleeding and stabilize prices. Still, with technical charts leaning overall bearish and Corn Belt weather remaining price-bearish, corn bulls have their work cut out for them regarding starting a sustainable price uptrend. U.S. Corn Belt weather forecasts on Friday said corn crop weather at present is not very threatening, although there will be some net drying in the region in the coming days, especially in the southwest part of the regions. It's been an interesting growing season for the U.S. corn crop. While many observers would call it a very good growing season for the crop up to this point, there have been a few hiccups recently. While there are still wide expectations of a record U.S. corn yield this year amid the good condition ratings from USDA, disease issues have been spotted in the Corn Belt. Those issues may or may not develop into more serious matters as the corn crop continues to mature in the coming weeks. And the heretofore beneficial growing weather in most of the Midwest could do an about face in the final stages of the growing season. These unknowns may be just enough to keep the corn market bears, including the big speculative funds, from piling on the short side heading into what could eventually turn out to be a bumper U.S. corn crop. More News from Barchart Does the 2025 Corn Crop Have a Pollination Problem? Weather Shocks vs. Oversupply: Are You Trading SRW Wheat's Next Big Move? Adverse Brazilian Weather and Tariff Concerns Boost Coffee Prices Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. On the positive side for corn, U.S. export demand has been good lately. USDA Friday reported daily U.S. corn sales of 102,870 metric tons (MT) to Mexico and 140,000 MT to South Korea during the 2025-26 marketing year. With countries starting to finalize trade deals with the U.S. before the Aug. 1 trade deal deadline, corn market bulls are looking for export demand to continue to increase in the coming weeks. However, a huge Brazilian corn crop that is coming to market may limit significant price upside for the corn market over the next few weeks. Soybeans Trapped in a Trading Range Ahead of Critical Growth Period for the U.S. Crop The technically bearish weekly low close Friday in November soybeans (ZSX25) set the table for some follow-through technical selling pressure from speculators early this week. Soybean growing weather also leans price-bearish for this week. Thunderstorm activity in the U.S. Midwest this week will be mostly beneficial for the crop. Warm temperatures will cause quick drying between rain events, and a cool air mass is expected to come into the Midwest Thursday and Friday. Most soybean market watchers agree the month of August is the most important growing month for most of the U.S. crop. So far, this growing season has been mostly very good for the U.S. soybean crop, which is keeping the bulls squelched. But the crop is not yet in the bin and Midwest weather patterns may change in August. Despite the price-bearish weather for soybeans, futures price action has been sideways and choppy, which arguably shows the bean bulls are resilient. In fact, soybean bulls can argue the price-bearish weather has been factored into prices, and that's why price action has been sideways and choppy. This also implies there is not much downside potential left in the soybean market. However, the soybean meal (ZMZ25) market remains sickly and will have to show some good upside price action in the coming weeks if soybeans want to have a chance to produce a sustained price uptrend. Meal may benefit in the coming weeks from speculative futures traders unwinding previously established long bean oil (ZLZ25) and short meal spreads. More U.S. trade deals and better U.S. soybean export sales will be needed in the coming months for the soybean market to see significant price appreciation. Better U.S. trade relations with China in the coming months would likely be a solid development on better U.S. soybean sales abroad. Separately, early fall will likely see soybean price rallies limited by commercial hedge pressure as the U.S. crop harvest begins. Winter Wheat Languishes at Lower Price Levels The winter wheat futures markets continue to struggle, but the bulls have so far successfully defended solid technical support levels just below the markets, to keep price action mostly sideways and choppy at lower price levels. However, last Friday's technically bearish weekly low close in December soft red winter wheat futures did give the technical bears some momentum heading into this week. Weather conditions in winter wheat country have so far been mostly favorable for harvesting. However, wheat conditions in Canada are a concern with parts of the Canadian Prairies losing some yield potential because of dry conditions. Some rain fell recently to improve parts of the Canadian wheat crop, but overall production may be below average. Commercial hedge pressure will likely continue to limit the upside for winter wheat futures in the coming few weeks, until harvest winds down. The trajectory of the U.S. Dollar Index ($DXY) in the coming months will be an important outside-market element for the U.S. wheat markets. The USDX saw a solid rebound in the first half of July but has since sold off. If the greenback continues its slide that has been in place most of this year, U.S. wheat export prices will become more attractive for world trade. Tell me what you think. I really enjoy getting emails from my valued Barchart readers all over the world. Email me at jim@ On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
CBS News
3 days ago
- Climate
- CBS News
Corn could be the reason we're dealing hot temperatures
Increased feels like temps felt all across the Corn Belt, an area touching southern Minnesota, could be because of a crop. "Corn sweat, well, the technical term, the scientific term is evapotranspiration," says Caleb Grunzke, a meteorologist for the National Weather Service Twin Cities. Grunzke says you aren't the only one who sweats. "In the mid to late summer as the corn is maturing, stalks want to stay cool like we do," said Grunzke. "They draw moisture out from the roots and sweat it out. As the corn sweats out, it evaporates in the air and increases moisture content in the air." A climatologist from Iowa State told CBS News it's a process that can add up to 10 degrees to the "feels-like" temp. The map shows the United States Corn Belt, a region historically dominating the crops' production, which our state is a part of. The entire zone is experiencing extreme heat this week, when you add the humidity from corn sweat it takes those feels like temperatures to dangerous levels. "A forecast like this, we still feel really humid but we have a little extra help to make it feel miserable," said Grunzke. He says the areas impacted most in Minnesota are the southern, central and western portions. Where is where the majority of Minnesota's corn can be found. According to Minnesota Corn Growers Association, roughly 16% of the state's total land area was planted with the crop in 2024. Minnesota is the fourth-largest exporter of corn in the United States. "There's a lot of corn in the Upper Midwest," said Grunzke. "Don't be outside for an extended period of time." Evapotranspiration happens every summer. The NWS says it ends once corn stops maturing.
Yahoo
4 days ago
- Business
- Yahoo
Corn and Soybeans Head for Weekly Losses as US Weather Stays Wet
(Bloomberg) -- Crop futures were on track for a weekly decline as weather outlooks called for more rain in the US Midwest, boosting yield prospects at a time when investors were already bearish. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Trump Administration Sues NYC Over Sanctuary City Policy A slow-moving cold front in the region Friday helped to bring cooler temperatures, according to the US Department of Agriculture's daily outlook. 'Heavy showers and thunderstorms along the front are maintaining favorable moisture supplies for corn and soybeans in the central Corn Belt,' the agency said. Heat earlier this week was linked to 'corn sweat,' when plants release moisture in the atmosphere that contribute to humidity. Over half the crop is throwing threads of silk as part of the yield-determining pollination process, while corn's national ratings of 74% 'good or excellent' are the best for this time of year since 2016. The favorable weather is keeping some investors on the sidelines, with light trading volumes on the Chicago exchange. 'Limited volume tells us that the market is comfortable with the current situation,' said StoneX risk management consultant Matt Campbell, adding that supplies are adequate and there's no need to change prices. Still, some buyers were taking advantage — the USDA reported daily export sales of both corn and soybeans to Mexico. In other markets, MIAX spring wheat futures were little changed one day after an annual crop tour found yield potential below USDA's estimate in North Dakota, the biggest grower. Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
4 days ago
- Climate
- Bloomberg
Corn and Soybeans Head for Weekly Losses as US Weather Stays Wet
Crop futures were on track for a weekly decline as weather outlooks called for more rain in the US Midwest, boosting yield prospects at a time when investors were already bearish. A slow-moving cold front in the region Friday helped to bring cooler temperatures, according to the US Department of Agriculture's daily outlook. 'Heavy showers and thunderstorms along the front are maintaining favorable moisture supplies for corn and soybeans in the central Corn Belt,' the agency said.
Washington Post
6 days ago
- Climate
- Washington Post
Where corn sweat exacerbated heat, and where sultry conditions will spread
Sultry air over the central United States — fueled by a heat dome, corn sweat and tropical winds from a warmer-than-average Atlantic Ocean temperatures — will spread eastward in the days ahead, bringing record temperatures to parts of the U.S. Over the last several days, dew points, a direct measure of humidity, were just a few degrees short of national records in the Corn Belt. The combination of heat and humidity exacerbated by corn fields caused heat index values to surge to 128 degrees in southern Missouri, 117 degrees in western Kentucky and 116 degrees in central Iowa so far this week. Now, that heat will spread into further states.
