News
USDA pegged soybean production at 4.59 billion bu., up 10% from 2023, using a record yield of 53.2 bu. per acre. Corn production is estimated at 15.1 billion bu., using a yield forecast of 183.1 bu. per acre.
Wheat inspections during the week ended Aug. 8 rose 178,717 MT from the previous week and topped expectations by 124,000 MT.
Corn and soybeans are posting mild weakness with wheat futures moderately lower. Livestock futures are narrowly mixed but generally higher to start the week...
Key USDA reports today | Trump/Musk interview tonight | SPR | UCO | Consumer spending
Corn, soybeans and wheat each saw sustained selling pressure overnight though saw a modest bounce into the break.
Grains traded lower overnight ahead of USDA’s August crop reports later this morning.
Poll: Harris leads Trump in Pa., Mich. and Wis. | Deere earnings Thursday | ERP deadline
Access this week’s newsletter here.
Charlie Cook on possible election results following Kamala Harris as Dem nominee
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.
Corn and soybeans both edged to fresh near-term lows into the close, amid risk-off sentiments following a week of volatile trade in the broader marketplace.
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.
Stabenow: Progress on farm bill stalled due to GOP resistance to compromise