Grains end lower after the USDA Report with a bearish soybean ending stocks number which pulled down corn and wheat. USDA lowered corn yield by 4 bpa which offset higher acres so ending stocks were nearly unchanged from June. Have soybeans topped and how low does corn go? Wheat production was raised leaving ending stocks 30 mb higher. Cattle and hogs reversed to end lower despite lower feed prices which was negative. Chip Nellinger, Blue Reef Agri-Marketing has analysis.
Grains Lower with Bearish USDA Report, Especially for Soybeans: So is the Top in Soybeans and How Low Does Corn Go?
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.
July 12, 2023 02:36 PM
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