RECORD Corn and Soybean Yields Predicted

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyGoogleTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.🌾 StoneX US Crop EstimatesYesterday, the well-followed private group, StoneX, released new US crop estimates based on a customer survey:Corn Yield: 182.3 bpa (USDA: 181.0 bpa)Corn Crop: 15.2 billion bushels (USDA: 15.1 billion bushels)Soybean Yield: 52.6 bpa (USDA: 52.0 bpa)Soybean Crop: 4.48 billion bushels (USDA: 4.43 billion bushels)🗺️ See graphic below for the state-by-state breakdown.📉 US Corn Export SalesLast week, US corn export sales were poor, hitting a marketing-year low:Net Corn Sales: 167,900mt (7 million bushels)Comparison: -49% from the previous week, -60% from the prior 4-week averageLargest Buyer: Mexico📈 Net soybean sales exceeded expectations:Net Soybean Sales: 376,400mt (14 million bushels)Comparison: Significantly up from the previous week and prior 4-week averageLargest Buyer: Germany📊 Net wheat sales were near the lower end of expectations:Net Wheat Sales: 286,600mt (11 million bushels)Comparison: -7% from the previous week, -41% from the prior 4-week averageLargest Buyer: Indonesia🌱 USDA Flash Sale & Drought MonitorThe USDA reported a flash sale of soybeans on Thursday:Sale to China: 132,000mt (5 million bushels) for 2024/2025 marketing yearYear-to-Date: China has made two flash sales totaling 264,000mt (10 million bushels)The weekly drought monitor data indicated limited rainfall across the Corn Belt, worsening drought conditions.Drought Impact:Corn: 5%Soybeans: 5%Winter Wheat: 32%Spring Wheat: 16%Cattle: 15%🐄 Cattle Prices & Market ConcernsLive and feeder cattle prices fell sharply due to fund selling, weakening consumer demand, and economic concerns:September Feeder Cattle: -2.1%October Live Cattle: -1.7%Boxed Beef: Choice cutout fell $2/cwt to $312.79/cwtDespite the futures decline, cash cattle prices have been steady.📉 Stock Market & Economic IndicatorsRecession fears sent the stock market tumbling:Dow Jones: -1.2%S&P 500: -1.4%Nasdaq: -2.3%10-Year Treasury Yield: Fell below 4% for the first time since FebruaryJobless Claims: Highest level in eleven monthsUS Manufacturing Activity: Contracted last month, hitting an eight-month low💬 Stay informed! Don't forget to subscribe and share your thoughts in the comments below. Keeping up with these updates is crucial for staying ahead in the market! 📊📉