The spring wheat CCI rating was the lowest of the growing season; the corn and soybean crops were still above their early July ratings.
Grain and soy futures open the week under pressure. Cattle futures are higher with lean hog futures under pressure...
Grain and soy futures are expected to open sharply lower this morning after heavy selling pressure overnight.
Corn, soybeans and wheat faced heavy price pressure during the overnight session.
All signs point toward a sharply lower open in grains this morning, though a series of daily soybean sales could somewhat limit buying in that market.
Corn, soybeans and SRW wheat extended Thursday’s losses overnight, while the HRW and HRS markets also weakened.
Grain and soy futures are expected to open mostly firmer this morning after favoring the upside in two-sided trade overnight.
Corn, soybeans and wheat traded on both sides of unchanged overnight but have firmed early this morning.
Soybean basis is in line with the three-year average.
Cattle herd declined 2.7%; beef cows dropped 2.6%.

Brian Grete