Agriculture News
The new month kicked off with corrective price gains in the grain markets overnight, led by soybeans.
Grain and soy futures are expected to open lower, with the exception of spring wheat.
Corn, soybeans and winter wheat markets traded lower overnight, while spring wheat was mixed.
Iowa and Nebraska led the CCI declines, while crops in Illinois improved.
Corn and soybean futures were supported overnight by crop concerns amid expectations for a poor finish to the growing season, while wheat futures slumped.
Pro Farmer estimates the U.S. corn crop at 14.960 billion bu. with an average yield of 172.0 bu. per acre. We estimate the U.S. soybean crop at 4.110 billion bu. with an average yield of 49.7 bu. per acre.
Scouts measured average corn yield potential of 181.34 bu. per acre. Pod counts in a 3’x3’ square averaged 984.39.
Day 2 observations from eastern Crop Tour consultant Mark Bernard
Day 2 observations from eastern Crop Tour leader Brian Grete
Scouts measured average corn yield potential of 182.80 bu. per acre. Pod counts in a 3’x3’ square averaged 1,190.41.