The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Joseph Vaclavik is the president at Standard Grain in Chicago. Standard Grain provides futures and options brokerage to farms, feedlots, elevators, processors, end-users and traders. Visit www.standardgrain.com for more information.
The USDA will release their September Crop Production report on Wednesday morning at 7:30am CST. The report will provide new supply, demand and production estimates for corn, soybeans, wheat and other crops.
The grain markets have sold off ahead of the report. December corn now sits below $7.80, the lowest levels seen since July. November soybeans traded below the $17 mark on Tuesday, but were able to rebound to close at $17.01 ½. The numbers below indicate the trade’s "average guesses" for tomorrow’s report and will assist traders/producers in dissecting the government’s numbers.
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