Agriculture News
Scouts measured an average corn yield potential of 185.06 bu. per acre for Ohio. Soybean pod counts in 3’x3' came in at 1,195.37.
Full results for Iowa will be released tomorrow.
Corn and soybean futures pulled back from gains earlier this week, while wheat futures extended this week’s declines.
NH3 posts an ominous price move as other N products stand pat...
Soybeans and wheat are pulling support from outside markets, while corn is mildly favoring the downside.
Weekly export inspections for week ended Sept. 29 reported wheat inspections notably above expectations, while corn and beans were as expected. Soybean inspections are currently running 3.2% behind a year ago.
Short-term trend turns bearish for soybeans, rice, live cattle and lean hog futures.
Corn and wheat futures traded solidly higher overnight, while soybeans favored the upside in two-sided trade.
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USDA’s quarterly grain stocks data showed YOY increases for corn, soybeans and wheat. Corn stocks were pegged at 1.376 billion bu., below the average trade estimate of 1.512 bb, with soybeans 32 million bu. higher.
Sept. 1 corn stocks came in 135 million bu. below the average pre-report trade estimate. The wheat production estimate was 128 million bu. lower than traders anticipated.