High temperatures this week could rattle the soybean and wheat markets

Farmers in the Corn Belt and Delta Region are experiencing extreme summer heat, which could benefit corn but be stressful for soybeans and cattle, affecting crop yields and market prices.

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Relevant topic timeline:

8/21/2023

Heat wave fuels more volatility in the commodity markets - Brownfield Ag News

The recent heat wave may contribute to increased volatility in commodity markets, particularly affecting soybeans which are in the reproductive stage and could lead to higher prices, while corn is expected to require deeper yield reductions to see significant price increases, and wheat prices are expected to continue struggling.

8/23/2023

Crop Tour Update and Market Recap

Crop Tour shows best corn, but soybean pods remain a concern as extreme heat affects Midwest crops.

8/22/2023

'No Monster Yields' but Nebraska Irrigated Corn has Above-Average Potential

Scouts on the Pro Farmer Crop Tour are concerned about the impact of high heat and limited moisture on the corn crop in Nebraska, while corn yields in Ohio and South Dakota are estimated to be higher than last year.

8/24/2023

Pro Farmer Crop Tour, Day 3: Heat and Stress Take a Toll on Corn in Iowa and Illinois

Scouts on the 2023 Pro Farmer Crop Tour reported high temperatures and varying crop conditions, with some regions seeing improvements from last year's drought while others suffered from lack of moisture and heat stress. Diseases such as tar spot and sudden death syndrome were also concerns, but overall soybeans performed well despite the challenges.

8/25/2023

With Pro Farmer Crop Tour in Rear View Mirror Market Turns Focus to Late Season Weather, September WASDE

Extreme heat and drought have caused damage to soybeans and corn crops, leading to lower yield and production estimates by Pro Farmer and potential higher prices in the future.

9/8/2023

Dry August Weather Expected to Lower Corn and Soybean Yields in Upcoming USDA Report

Analysts expect the upcoming U.S. Department of Agriculture (USDA) estimates to show smaller corn and soybean crops due to falling yield prospects caused by dry and hot weather conditions.

9/12/2023

Dry Weather Reduces Crop Yield Expectations in Iowa and Illinois

Dry weather and unfavorable growing conditions in Iowa and Illinois have led to reduced yield expectations for soybeans and corn, with the latest dry spell preventing maximization of yields and causing some crops to shut down.

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Posted 8/23/2023, 2:37:10 PM