Favorable Weather Pressures Grain Markets Ahead of August Supply Reports

Grain markets are under pressure as favorable growing conditions in the Midwest continue to improve crop prospects ahead of the US Department of Agriculture's August supply and demand reports.

Corn and soybean futures declined last week due to weather forecasts predicting timely rainfall and moderate temperatures during a critical period of crop development.

Analysts say the favorable conditions are boosting expectations for another strong U.S. harvest, which is leading traders to anticipate larger production estimates and potentially ample grain supplies this fall.

The USDA's August World Agricultural Supply and Demand Estimates report will provide the first survey-based production forecasts for the 2026 corn and soybean crops, offering updated estimates for production, domestic use, exports, and ending stocks.