TOP STORIES: 



  Corn Slides as Strong Crops Meet Weak Demand 


  Corn for December delivery fell 1.5% to $3.30 and 3/4 a bushel on the Chicago Board of Trade on Tuesday, as favorable weather forecasts and excellent crop conditions stoke fears of an oversupply while global demand remains subdued. 


  Wheat for September delivery rose 1.1% to $5.27 and 3/4 a bushel. 


  Soybeans for November delivery fell 0.8% to $8.93 a bushel. 


  STORIES OF INTEREST: 


  Corn Prices to Remain Weak Saving 'Major Threat' to Crops -- Market Talk 


  14:46 ET - Weather will continue to drive grain prices, AgResource says, noting that an updated EU model forecasts "normal precip and slightly above normal Central US temps throughout the next 30 days." The favorable weather weakens prices, as there seems to be little demand for the resulting strong crops. "The need to find corn demand has lingered in the background throughout the growing season," AgResource says, adding that price increases will hardly happen "without a major threat to yield in August or during harvest." Corn slides 1.5% and soybeans fall 0.8%, while wheat rises 1.1%. (paulo.trevisani@wsj.com; @ptrevisani) 


  Egypt Buys 115,000 Tons of Ukrainian Wheat -- Update 


  Egypt bought 115,000 metric tons of Ukrainian wheat at an international tender on Tuesday, traders said. 


  The purchase by Egypt's state grain buyer, the General Authority for Supply Commodities, comprised one 55,000-ton cargo and one 60,000-ton cargo for delivery between Aug. 21 and 31. 


  Bayer's Glyphosate Story Isn't Over Yet -- Market Talk 


  0815 GMT - Bayer's glyphosate risk is back under the spotlight, Bryan Garnier says after an appeal court in California ruled against its seed-and-pesticides maker Monsanto. On Monday, Bayer lost an appeal in the first case to go to trial linking its Roundup weedkiller to cancer, but the court reduced damages awarded to $20.4 million from $78.5 million. "This judgment came in just after Bayer walked away from [a] plan to contain future Roundup cancer claims after Judge Chabria, who set a hearing on this plan for July 24, made it clear he would not approve the plan proposed by Bayer," Bryan Garnier says. Shares in Bayer trade 1.8% higher at EUR63.39. (kim.richters@wsj.com) 


  THE MARKETS: 


  Hog Prices Recover Despite Weak Demand -- Market Talk 


  15:58 ET - Today's increase in hog prices comes without any changes in the fundamental fact that "there still is a lot of hogs out there," says Jack Scoville, from Price Futures Group. He said supply is too large to sustain price increases and today's gain is more likely a reaction to Monday's sharp loss. Live cattle markets also struggle with backlog caused by packing closures during the Covid-19 pandemic, leading to another decline in prices. Trader Mike Seery, from Seery Futures, who is long on cattle, sees prices improving as pandemic flare-ups ease. Hogs rise 2.13% and live cattle slides 0.2%. (paulo.trevisani@wsj.com; @ptrevisani)