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The July WASDE report was bearish for grains. The biggest disappointment for the bulls was USDA’s ending stocks figure for soybeans.
AgDay TV Markets Now: Chip Nellinger with Blue Reef Agri-Marketing discusses if soybeans have topped and how low corn could go after the USDA Report data.
USDA looks to improve the future measure, monitoring, reporting and verification of ag climate emissions via a $300 million investment announced on Wednesday.
The biggest surprises included a 4-bu. reduction in corn yield and soybean ending stocks came in at 300 million bushels, which is 100 million bushels higher than trade estimates.
Three senators introduced the Voluntary Groundwater Conservation Act, aiming to provide family farmers and ranchers with more flexibility to protect groundwater resources while maintaining their agricultural lands.
Grains lower with a bearish USDA report, especially on soybean ending stocks. Have soybeans topped and how low does corn go? Livestock also reverse lower in bearish action. Chip Nellinger, Blue Reef Agri-Marketing.