Grains end the day lower after USDA cut corn and soybean yields as well as ending stocks, partially because yields could get bigger with recent rains, but also because FSA acreage data was released on Friday. Wheat fell with higher ending stocks and Ukraine production. Cotton closed higher with a cut in production and ending stocks. Alan Brugler, Brugler Marketing, covers it all.
Grain Prices Fall After USDA Reports: Is It Because Yields Are Getting Bigger?
Grains closed lower after USDA’s August crop production and WASDE reports. Alan Brugler, Brugler Marketing, has all the details.
August 11, 2023 06:40 PM
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Wednesday morning USDA reported a flash sale of 13.2 million bushels of soybeans to unknown destinations and Randy Martinson with Martinson Ag says the market is betting that its China.
Soybeans were sharply lower in the overnight trade and then saw a gap higher open during the day session on talk that China was in pricing U.S. soybeans says Brian Grete with Commstock Investments.
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
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