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
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Mark Schultz of Northstar Commodity says grain markets also saw some position squaring by traders heading into a three-day weekend as the markets are closed on Friday for Juneteenth.
Cattle futures were lower early Thursday seeing some profit taking after some technical chart breakouts this week, but also positioning ahead of the holiday.
Soybeans ended higher as rumored export business was confirmed by USDA with a flash sale of 13.7 million bu. to unknown destinations. However, China was also looking for corn and wheat.
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