Grains close mixed on Friday with corn lower, but soybeans higher building in weather premium and in anticipation of the Pro Farmer crop estimates. Corn yield was lowered to 172 bpa, production to 14.96 bb, soybean yield was cut to 49.7 bpa with production at 4.11 bb. Pro Farmer editor Brian Grete talks about how the tour influenced their cuts and what it means for ending stocks and prices.
Soybeans Higher on Weather, Corn Lower: How Will the Market React to Pro Farmer Crop Estimates?
Corn closed lower, soybeans higher on weather & in anticipation of Pro Farmer’s crop estimates. Pro Farmer’s Brian Grete talks about how the tour influenced their cuts and what it means for ending stocks & prices.
August 25, 2023 04:11 PM
Related Stories
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Read Next
Pro Farmer National Forecast: Corn Falls Short of Last Year’s Record, But Soybeans Eye New Milestone
Scouts say early-season weather stress reduced corn ear counts and grain length and cut stands across the Corn Belt, but above-average soybean pod numbers mean farmers could harvest a record bean crop this fall.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
