News
All three crops remain rated well ahead of average for the second week of August.
Corn futures rallied from contract lows forged in early trade following USDA’s Crop Production and Supply & Demand Reports, while rallying crude supplied a boost. Soybeans faded amid forecasts of a record crop.
Old- and new-crop corn ending stocks cut despite the bigger production estimate.
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...
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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.
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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.
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.