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
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