Agricultural Markets Show Pre-Report Jitters Ahead of USDA Reports
The agricultural markets are seeing some pre-report jitters ahead of today's USDA reports. Corn, soybeans, and wheat all gave up some of their gains from Thursday overnight.
According to Pro Farmer, corn is expected to be around 3 to 5 cents lower, while soybeans may drop by 9 to 11 cents. Wheat prices are anticipated to be between 1 to 3 cents lower.
The USDA's September Crop Production Report will be released today at 11 a.m. CT and will provide a comprehensive look at the country's corn and soybean crop prospects. This report will utilize objective yield data, offering insights into planted population, ear counts, and implied ear weights.
Pro Farmer estimates that the average U.S. national corn yield will be around 173.2 bushels per acre, which is lower than the USDA's August estimate of 180.2 bushels per acre.