Agriculture News
Scouts measured average corn yield potential of 180.89 bu. per acre. Pod counts in a 3’x3’ square averaged 1,309.96.
Weekly export inspections for week ended Aug. 17 showed inspections within pre-report estimates for corn, soybeans and wheat. Corn and wheat inspections rose slightly on the week, while soybeans declined notably.
Monthly Rural Mainstreet Index reflects impact of rising interest rates on bank deposits.
Feedlot inventories declined from year-earlier levels for an 11th straight month.
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Grain and soy futures are expected to open moderately to sharply higher on weather concerns and Black Sea tensions.
A combination of weather concerns and increased geopolitical uncertainty in the Black Sea region supported corn, soybeans and wheat overnight.
The extended weather forecast from the National Weather Service calls for “equal chances” for normal, above-normal and below-normal rainfall across the central U.S. during September.
Soybeans are expected to modestly favor the upside, while corn and wheat are called lower this morning.