Agriculture News
USDA’s Oct. WASDE revealed an additional cut to the national soybean yield to 49.8 bu. per acre (bpa), while pre-report estimates averaged 50.5 bpa. The corn yield landed slightly above the average estimate at 171.9 bpa.
The state of Mato Grosso moved one step closer to assuming control of the project to upgrade BR-163, the so-called “soybean highway” in Brazil.
Weekly export sales data for week ended Sept. 29 proved uninspiring with corn over 120K MT short of expectations, while wheat was slightly above. Soybeans landed on the low end of pre-report estimates.
Expansion of drought will add to low water levels and shipping disruptions along the Lower Mississippi and Oho river valleys.
Corn, soybean and winter wheat futures traded lower overnight as outside markets provided price pressure.
Basis continues to fall for both corn and soybeans amid seasonal pressure during harvest and shipping problems to the Gulf given low water levels.
Scouts measured average corn yield potential of 177.4 bu. per acre. Pod counts in a 3’x3’ square averaged 1,027.
Scouts measured average corn yield potential of 190.8 bu. per acre. Pod counts in a 3’x3’ square averaged 1.218.
Scouts measured average corn yield potential of 196.30 bu. per acre for Illinois. Pod counts in a 3’x3’ square averaged 1,279.79.
Full results for the state will be released tomorrow.