Grains lower following the USDA report even after yield, production and ending stocks cuts in corn and beans. Wheat was slightly negative with an increase in carryover. Jim McCormick of AgMarket.Net says because of when the surveys were taken, soybean and even corn yields may go back up moving forward due to recent rains. And if corn yield is cut it will continue to be met with cuts in demand keeping ending stocks over 2 billion.
Corn and Soybeans Fade USDA Cuts to Yields and Ending Stocks: Timing of Surveys May be the Answer
Grains slide lower after the USDA lowered yield, production and ending stocks on corn and beans. Wheat was slightly negative with an increase in carryover. Jim McCormick of AgMarket.Net has analysis.
August 11, 2023 02:36 PM
Related Stories
Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
Read Next
The question facing U.S. agriculture is whether current farm aid is a bridge through temporary hardship — or a pier toward more structural government support.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
