Grains sell off post WASDE with the bulls disappointed in a 300 million bushel ending stocks figure on soybeans. Corn yield was cut 4 bpa, which offset acreage and so ending stocks saw little change from June, while U.S. wheat numbers were slightly bearish. Brian Splitt with AgMarket.Net breaks it down.
Grains See Pressure Post WASDE with Bulls Disappointed with Soybean Ending Stocks: Corn Yield Drop Offsets Acreage
Grains sell off with bulls disappointed in a 300 mb ending stocks figure for soybeans, lower corn yield offset acreage, while U.S. wheat numbers were slightly bearish. Brian Splitt with AgMarket.Net.
July 12, 2023 11:57 AM
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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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