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Friendly USDA data lifts corn, soybean and wheat. Argentine exchange expects soybean plantings to slide for sixth year in a row. Moderate Democrats pressure Pelosi to take up physical infrastructure package.
After the Bell | August 12, 2021 USDA’s lower-than-expected harvest estimates boost corn futures to six-week highs, wheat to three-month highs.
Your editors take you through USDA’s latest WASDE and Crop Production Reports that had no shortage of surprises.
Its initial soybean crop estimate was also a bit smaller than expected, and it sliced its all wheat crop quite a bit more than the market anticipated. The market was also caught leaning the wrong way on cotton.
“Increased drought coverage and intensity was more common, as a large majority of these areas recorded light precipitation at best,” today’s drought summary says.
Steps ahead for infrastructure measures/reconciliation | CEO of WH Group steps down
USDA will release corn and soybean crop estimates today, China lowers soybean import projection and economists expect inflation to persist...
Ahead of the Open | August 12, 2021 Corn, soybean futures trading slightly lower, wheat firmer as trade awaits key USDA reports.
But exports of the oilseed hit a marketing-year low.
USDA’s WASDE and Crop Production Report out at 11:00 a.m. CT. China trims soybean import projection for 2020-21. Low water levels on Parana River could get worse before it gets better.