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USDA’s June Acreage and Quarterly Stocks reports resulted in a bullish surprise for soybeans and bearish news for corn. In an already volatile grain market, the supply situation is problematic.

Hurricane-force winds swept from northern Missouri and Iowa all the way east to Illinois and Indiana. The derecho brought wind gusts up to 100 mph, flattening cornfields, but it also drenched soils with crucial rains.

Soybeans ended sharply higher with a 4 ma cut so where does that put ending stocks? Corn picked up another 2 ma so will that be offset by yield? Cattle soared on the lower corn. Matt Bennett with Ag Market.Net.

USDA reports had a bullish surprise for soybeans w/around 4 million less acres & lower stocks, but bearish for corn with 94.1 ma. Wheat acreage and stocks slightly lower acreage. John Heinberg, Total Farm Marketing.

Grains higher on corrective bounce, positioning pre-report and assessing storm damage and weather. Live cattle supported by steady cash in the north, hogs work in bearish report numbers. Randy Martinson, Martinson Ag.

The pest is showing up in early-season soybeans. Current numbers don’t necessarily warrant treatment. Because the pests can double in population in only a few days, scouting is the only way to stay on top of them.

The International Grains Council (IGC) cut its 2023-24 global corn crop forecast, reflecting reduced production potential in the U.S. due to drought conditions.

AgDay TV Markets Now: Rich Nelson of Allendale discusses what the grain markets will trade Friday. Will weather trump the reports?