Grains end mostly higher with bullish surprises on corn and soybean quarterly stocks pushing old crop contracts higher. Soybean acres were also lower than expected with corn above estimates at 92 million. There wasn’t much bullish in the report for wheat but it followed row crops. So where do prices go from here? Darren Frye, Water Street Solutions has analysis and also talks about new contract highs in cattle.
Grains End Mostly Higher on USDA’s Bullish Stocks and Soybean Acres, While Corn and Wheat Acres Rise
Grains close mostly higher after USDA Reports, where do prices go from here? Darren Frye, Water Street Solutions has report analysis and price projections, plus talks about new highs in cattle.
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Shawn Hackett with Hackett Financial Advisors says the market was removing China premium after the disappointing summit as the market wanted more details on ag purchases.
Scott Varilek with Kooima Kooima Varilek says cattle futures are back trading higher with their huge discount to the record cash trade. He says cash trade could get even crazier.
Grain markets crashed on Thursday with profit taking and fund liquidation tied to disappointment over the lack of agricultural purchase agreements during day one of the U.S. China summit.
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