Dr. Michael Cordonnier says while just 4% to 5% of the crop has been planted, acreage estimates are on the rise.
Soybeans are 13 to 15 cents higher, with corn marginally higher and winter wheat mostly 6 to 7 cents higher. Cattle are mostly weaker and lean hogs are mixed.
Improved Chinese soybean demand lifting futures, with wheat and corn enjoying spillover Tuesday morning.
Dry conditions have developed in the U.S. heartland over the past several weeks, furthering the corn and soybean harvest while also hampering wheat planting and germination.
Corn and wheat export inspections came in lighter than expected, however.
Widespread freezes are expected over the weekend and early next week. Get more weather highlights.
Soybeans are called higher after USDA announced China purchased 240,000 MT of new-crop U.S. soybeans. Corn was marginally lower overnight due to harvest progress and winter wheat was marginally higher. Livestock futures are expected to find support this morning from strength in the product markets.
Far eastern areas of the Corn Belt are the exception, as they are expected to see more normal temps and precip.
Corn and wheat ended 1 to 2 cents lower, with soybeans up 1 to 2 cents. Livestock futures ended slightly to moderately higher.
Corn and wheat futures are slightly lower in morning trade, with soybeans 5 to 7 cents higher. Livestock futures are stronger to start the week.
As of Tuesday, October 13
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