Agriculture News
Basis for corn and soybeans continues to decline amid increased harvest and low water levels on the Mississippi River.
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Corn, soybean and wheat futures regained a portion of Thursday’s losses amid corrective buying overnight.
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 183.81 bu. per acre. Pod counts in a 3’x3’ square averaged 1174.43.
Scouts measured average corn yield potential of 190.39 bu. per acre. Pod counts in a 3’x3’ square averaged 1100.75.