Grains Rise as Trade Tensions Escalate
Grain futures saw modest gains overnight ahead of Wednesday's USDA crop production and monthly supply and demand reports (WASDE). At 6:00 a.m. CDT, December corn was up 2 cents, while November soybeans were 1 1/4 cents higher. September soybean meal hit a five-week low but still rose $0.20.
Analysts predict U.S. corn production at 15.93 billion bushels, about 66 million below the USDA's July figure. The expected yield is around 182.4 bushels an acre for corn and 52.9 bushels an acre for soybeans.
The annual Pro Farmer crop tour is set to take place next week, featuring real-time analysis and commentary. Meanwhile, President Trump hardened his stance toward Iran, demanding reparations for past attacks and compensation for those killed or wounded by roadside bombs.