- As of Dec. 8, USDA says corn harvest advanced three percentage points to 92% complete, whereas the five-year average is 100%. That implies there were still 6.5 million acres of corn left in fields, or about 1.2 billion bushels. This will be USDA’s last update of the season.
- Some underlying support is coming from a Wall Street Journal report that China and the U.S. are negotiating a delay in Dec. 15 U.S. implementation of new tariffs. That could be a sign that China has agreed to specific large U.S. ag purchases.
Soybeans are 2 to 3 cents higher, extending the short-covering rally for sixth session.
SRW wheat are down 1 to 2 cents, HRW wheat is mixed and spring wheat futures are steady to a penny lower.
Live cattle futures are choppy, while feeder futures are slightly higher, erasing earlier weakness.
Lean hog futures are slightly to moderately higher.