Grains:
- North Dakota spring wheat yields pegged at 54.5 bushels per acre, the highest yields recorded on the tour since 1992
- USDA July forecast for North Dakota wheat yields at 56 bushels per acre, a record
- September corn struggled to trade at or above the $4.10 level and is pulling back after multiple sessions of rejection
- December corn had an inside day for yesterday and is trading lower on the session to start Friday
- August soybeans in our opinion has resistance at $11.29 and after multiple days of approaching resistance and failing the market is pulling back and down 20+ cents/bu at the time of posting
- August option expiration is today
Livestock:
- Cattle slaughter down 4.5% from a year ago
- Beef cutout values: Choice down $0.22, Select up $1.15
- Hog slaughter up 1.1% from a year ago
- CME pork cutout index up $1.07 from the previous day at 103.02
Oil and Energy:
- US crude oil inventories declined by 24 million barrels over 4 consecutive weeks
- Crude oil price support at $76.04, resistance at $79.00 (opinion)
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