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With all three categories coming in on the bearish side of the average pre-report estimates, the report is price-negative.

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USDA Secretary Tom Vilsack appeared before the House Ag Committee Thursday for nearly four hours.

Soybean futures expected lower in correction from rally to seven-month highs, corn and wheat also lower.

Wheat and soybeans within expectations

Canada food prices, availability already being impacted by Covid vaccine mandate

Soybeans, corn and spring wheat pulled back from Thursday’s gains overnight, while winter wheat futures extended yesterday’s losses.

The Rural Mainstreet Index is above growth neutral for the 14th straight month.

Soybean futures surge to highest levels since mid-June, corn slightly lower, winter wheat down in corrective setback.