Agriculture News
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Grain futures are expected to open firmer amid corrective buying.
Corn, soybeans and wheat traded higher amid corrective buying during the overnight session.
USDA will also issue its first cotton crop estimate and update wheat production.
Our Market Watch table features monthly and quarterly price outlooks along with weekly prices for a variety of ag markets.
Old- and new-crop soybean sales during the week ended Aug. 1 each surpassed analysts’ pre-report expectations, while new-crop corn were notably short.
Corn and soybean basis declined along with cash prices.
Followthrough buying in wheat, corn and beans extend losses overnight.
Iowa was the only state in the Farm Credit Services report to experience a decline in farmland values.
Annual USDA Report Pegs Average Value at $5,570 an Acre
All three crops remain rated well above last year at this time.
Josh Linville, Director of Fertilizer at StoneX surveys the current situation and looks out to the coming months
Weekly corn inspections during the week ended Aug. 1 totaled 1.2 MMT, up 143,000 MT from the previous week and topping analysts’ pre-report expectations.
Grains pressured overnight by generally favorable weather and strong risk aversion.
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